Exane Asset Management Increases Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Exane Asset Management increased its holdings in Coca-Cola Europacific Partners by 17.1%, making it the 5th largest holding in their portfolio.
• Other institutional investors like Vanguard Group and Invesco have also significantly increased their stakes in Coca-Cola Europacific Partners, with some holding over 31.35% of the stock.
• Analyst ratings for Coca-Cola Europacific Partners are mixed, with a current average rating of "Moderate Buy" and a target price averaging $92.40.

Exane Asset Management boosted its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 17.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 264,247 shares of the company's stock after purchasing an additional 38,592 shares during the quarter. Coca-Cola Europacific Partners comprises 10.2% of Exane Asset Management's holdings, making the stock its 5th largest holding. Exane Asset Management owned 0.06% of Coca-Cola Europacific Partners worth $24,247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of Coca-Cola Europacific Partners by 2.1% in the 1st quarter. Invesco Ltd. now owns 10,335,894 shares of the company's stock valued at $899,533,000 after acquiring an additional 215,966 shares in the last quarter. Vanguard Group Inc. grew its holdings in Coca-Cola Europacific Partners by 462.7% in the first quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company's stock worth $862,167,000 after purchasing an additional 8,126,996 shares during the period. Goldman Sachs Group Inc. increased its stake in Coca-Cola Europacific Partners by 24.3% in the first quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company's stock valued at $540,050,000 after purchasing an additional 1,214,493 shares in the last quarter. Amundi raised its holdings in shares of Coca-Cola Europacific Partners by 1.6% during the first quarter. Amundi now owns 3,128,598 shares of the company's stock valued at $281,009,000 after purchasing an additional 49,747 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Coca-Cola Europacific Partners by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,030,119 shares of the company's stock worth $263,711,000 after purchasing an additional 142,019 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CCEP shares. UBS Group boosted their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Morgan Stanley cut Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Finally, Barclays lowered their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and an average target price of $92.40.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $89.52 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15. The stock's fifty day simple moving average is $92.13 and its two-hundred day simple moving average is $90.62. Coca-Cola Europacific Partners has a 1-year low of $73.40 and a 1-year high of $100.67. The stock has a market cap of $41.26 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.60 and a beta of 0.78.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. It offers flavours, mixers, and energy drinks; soft drinks, waters, enhanced water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.

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