Farther Finance Advisors LLC Boosts Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Farther Finance Advisors LLC significantly increased its holdings in Coca-Cola Europacific Partners by 2,424.6% during the second quarter, now owning 7,170 shares valued at approximately $665,000.
• Multiple institutional investors have also ramped up their stakes in Coca-Cola Europacific Partners, with several firms showing over 100% increases in their holdings during the first quarter.
• Despite some analysts downgrading their ratings on the stock, the consensus rating remains a "Moderate Buy" with an average target price of $92.40.

Farther Finance Advisors LLC grew its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 2,424.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,170 shares of the company's stock after purchasing an additional 6,886 shares during the quarter. Farther Finance Advisors LLC's holdings in Coca-Cola Europacific Partners were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CCEP. Assetmark Inc. raised its stake in Coca-Cola Europacific Partners by 107.3% during the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after acquiring an additional 147 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Coca-Cola Europacific Partners during the first quarter worth about $28,000. Cullen Frost Bankers Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 204.2% during the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after purchasing an additional 245 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of Coca-Cola Europacific Partners during the first quarter worth about $33,000. Finally, Motco lifted its holdings in shares of Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company's stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

CCEP has been the topic of a number of research reports. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley downgraded shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Barclays decreased their price target on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $92.40.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP opened at $89.52 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. The firm has a market cap of $41.26 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.59 and a beta of 0.78. The firm's fifty day moving average price is $92.13 and its 200 day moving average price is $90.51. Coca-Cola Europacific Partners has a 1-year low of $73.40 and a 1-year high of $100.67.

Coca-Cola Europacific Partners Profile

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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