Goldman Sachs Group Inc. Has $540.05 Million Stock Position in 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. boosted its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 24.3% in the 1st quarter, according to its most recent filing with the SEC. 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 about 1.35% of Coca-Cola Europacific Partners worth $540,050,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Nissay Asset Management Corp Japan ADV raised its holdings in Coca-Cola Europacific Partners by 13.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 81,468 shares of the company's stock valued at $7,090,000 after acquiring an additional 9,738 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Coca-Cola Europacific Partners by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 305,684 shares of the company's stock valued at $26,604,000 after acquiring an additional 31,980 shares during the period. DnB Asset Management AS raised its holdings in Coca-Cola Europacific Partners by 26.5% in the 1st quarter. DnB Asset Management AS now owns 1,373,569 shares of the company's stock valued at $119,542,000 after acquiring an additional 288,060 shares during the period. Clark Capital Management Group Inc. raised its holdings in Coca-Cola Europacific Partners by 1.2% in the 1st quarter. Clark Capital Management Group Inc. now owns 554,058 shares of the company's stock valued at $48,220,000 after acquiring an additional 6,560 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Coca-Cola Europacific Partners by 10.5% in the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company's stock valued at $621,000 after acquiring an additional 677 shares during the period. 31.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CCEP. Barclays lowered 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 report on Friday, August 8th. 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 report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.40.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP traded down $0.35 during mid-day trading on Friday, reaching $89.71. The stock had a trading volume of 1,128,912 shares, compared to its average volume of 2,030,219. The stock has a 50-day simple moving average of $93.40 and a two-hundred day simple moving average of $90.19. The stock has a market capitalization of $41.35 billion, a PE ratio of 18.46, a P/E/G ratio of 2.62 and a beta of 0.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month 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.