Goldman Sachs Group Inc. Acquires 1,214,493 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Goldman Sachs Group Inc. increased its stake in Coca-Cola Europacific Partners by 24.3%, owning 6,205,337 shares valued at approximately $540 million as of the latest reporting period.
• Institutional investors now hold 31.35% of Coca-Cola Europacific Partners' stock, with several firms significantly boosting their positions during the first quarter.
• Coca-Cola Europacific Partners has received mixed ratings from analysts, with a consensus of "Moderate Buy" and a price target of $90.50, reflecting varying confidence in the stock's performance.

Goldman Sachs Group Inc. raised its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 1.35% of Coca-Cola Europacific Partners worth $540,050,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Private Trust Co. NA raised its position in Coca-Cola Europacific Partners by 6.0% during the 1st quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock worth $176,000 after purchasing an additional 115 shares during the last quarter. BKM Wealth Management LLC grew its holdings in Coca-Cola Europacific Partners by 1.6% during the 1st quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock worth $682,000 after acquiring an additional 124 shares during the period. Assetmark Inc. grew its holdings 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 during the period. RWA Wealth Partners LLC grew its holdings in Coca-Cola Europacific Partners by 0.3% during the 1st quarter. RWA Wealth Partners LLC now owns 53,905 shares of the company's stock worth $4,691,000 after acquiring an additional 149 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Coca-Cola Europacific Partners by 2.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,177 shares of the company's stock worth $538,000 after acquiring an additional 150 shares during the period. 31.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Coca-Cola Europacific Partners Stock Down 0.4%

Shares of CCEP traded down $0.35 during trading hours on Friday, hitting $89.71. The stock had a trading volume of 1,128,912 shares, compared to its average volume of 1,989,480. 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 50 day simple moving average of $93.40 and a 200-day simple moving average of $90.25. The firm has a market capitalization of $41.35 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 2.60 and a beta of 0.78. Coca-Cola Europacific Partners has a 1-year low of $73.40 and a 1-year high of $100.67.

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.