iA Global Asset Management Inc. Acquires New Stake in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• iA Global Asset Management Inc. invested approximately $5.59 million to acquire 64,266 shares of Coca-Cola Europacific Partners (NASDAQ:CCEP), marking a significant addition to their portfolio in the first quarter.
• Analysts have mixed opinions on CCEP, with Barclays upgrading its target price to $104.00 and UBS raising it to $105.00, while Wall Street Zen downgraded its rating to a "hold".
• CCEP's stock performance indicates a market cap of $45.33 billion, with shares currently trading around $98.33, and a twelve-month range between $71.49 and $100.67.

iA Global Asset Management Inc. purchased a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,266 shares of the company's stock, valued at approximately $5,593,000.

Other large investors have also modified their holdings of the company. Invesco Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 26.3% during the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock worth $777,312,000 after purchasing an additional 2,105,019 shares in the last quarter. FMR LLC lifted its stake in shares of Coca-Cola Europacific Partners by 3.3% in the fourth quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after purchasing an additional 229,679 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Coca-Cola Europacific Partners by 1.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company's stock valued at $190,243,000 after purchasing an additional 38,911 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Coca-Cola Europacific Partners by 253.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock valued at $169,537,000 after purchasing an additional 1,397,394 shares during the period. Finally, Barclays PLC lifted its stake in shares of Coca-Cola Europacific Partners by 236.4% in the fourth quarter. Barclays PLC now owns 1,804,855 shares of the company's stock valued at $138,631,000 after purchasing an additional 1,268,401 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded up $1.54 during trading hours on Friday, reaching $94.76. 1,508,178 shares of the company traded hands, compared to its average volume of 1,761,471. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $43.68 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.48 and a beta of 0.75. Coca-Cola Europacific Partners has a fifty-two week low of $72.50 and a fifty-two week high of $100.67. The stock has a fifty day simple moving average of $94.78 and a 200 day simple moving average of $88.79.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reduced their price objective 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. UBS Group upped their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley lowered Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday. Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Deutsche Bank Aktiengesellschaft reissued 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 given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of "Hold" and a consensus price target of $90.43.

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.