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Goldman Sachs Group Inc. Buys 1,214,493 Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP)

Coca-Cola Europacific Partners logo with Consumer Staples background

Key Points

  • Goldman Sachs Group Inc. increased its stake in Coca-Cola Europacific Partners by 24.3%, owning over 6.2 million shares valued at approximately $540 million.
  • Multiple institutional investors have made significant changes to their positions in Coca-Cola Europacific Partners, with ownership amongst institutions now at 31.35% of the company's stock.
  • Recent analyst ratings for Coca-Cola Europacific Partners include a target price increase from $100 to $105 by UBS Group, while the stock currently has an average rating of "Moderate Buy".
  • Need better tools to track Coca-Cola Europacific Partners? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Goldman Sachs Group Inc. boosted its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 24.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,205,337 shares of the company's stock after purchasing an additional 1,214,493 shares during the period. Goldman Sachs Group Inc. owned about 1.35% of Coca-Cola Europacific Partners worth $540,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCEP. Assetmark Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 107.3% in the first quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after buying an additional 147 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter worth $28,000. Optiver Holding B.V. purchased a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $29,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 204.2% in the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after buying an additional 245 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter worth $33,000. Institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Down 0.2%

Shares of CCEP stock traded down $0.18 during trading hours on Monday, reaching $94.58. 369,818 shares of the stock were exchanged, compared to its average volume of 2,146,535. The company's 50-day moving average price is $94.78 and its 200-day moving average price is $88.88. 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 firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.49 and a beta of 0.75. Coca-Cola Europacific Partners has a 12-month low of $72.97 and a 12-month high of $100.67.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CCEP shares. Barclays reduced their price target on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday. Finally, UBS Group boosted their price target 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $90.43.

Check Out Our Latest Analysis on CCEP

About Coca-Cola Europacific Partners

(Free Report)

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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Institutional Ownership by Quarter for Coca-Cola Europacific Partners (NASDAQ:CCEP)

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