Forsta AP Fonden Grows Stock Position in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Forsta AP Fonden increased its stake in Coca-Cola Europacific Partners by 48.6%, now holding 26,900 shares worth roughly $2.34 million.
• The stock has been rated with various outlooks, including a target price adjustment by Barclays from $104.00 to $103.00 and a raise by UBS from $100.00 to $105.00.
• Coca-Cola Europacific Partners' stock is currently trading at $94.51, down 0.3%, with a market cap of $43.56 billion and a consensus rating of "Hold".

Forsta AP Fonden lifted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 48.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,900 shares of the company's stock after purchasing an additional 8,800 shares during the period. Forsta AP Fonden's holdings in Coca-Cola Europacific Partners were worth $2,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCEP. Assetmark Inc. boosted its holdings in Coca-Cola Europacific Partners by 107.3% in the first quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after purchasing an additional 147 shares during the period. NBC Securities Inc. purchased a new position in Coca-Cola Europacific Partners in the first quarter valued at $28,000. Optiver Holding B.V. purchased a new position in Coca-Cola Europacific Partners in the fourth quarter valued at $29,000. Cullen Frost Bankers Inc. boosted its holdings in Coca-Cola Europacific Partners by 204.2% in the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after purchasing an additional 245 shares during the period. Finally, HM Payson & Co. purchased a new position in Coca-Cola Europacific Partners in the first quarter valued at $33,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Down 0.3%

CCEP opened at $94.51 on Tuesday. The business's 50-day simple moving average is $94.84 and its 200-day simple moving average is $89.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. Coca-Cola Europacific Partners has a one year low of $72.97 and a one year high of $100.67. The stock has a market capitalization of $43.56 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 2.49 and a beta of 0.75.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays decreased their target price on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Friday. UBS Group lifted their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $90.43.

Coca-Cola Europacific Partners Company 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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