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Mackenzie Financial Corp Lowers Stock Position in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Coca-Cola Europacific Partners logo with Consumer Staples background

Key Points

  • Mackenzie Financial Corp reduced its holdings in Coca-Cola Europacific Partners by 2.8% in the first quarter, owning 262,491 shares valued at approximately $22.85 million.
  • Institutional investors currently hold 31.35% of Coca-Cola Europacific Partners' stock, with several funds significantly increasing their stakes in recent months, including a 253.8% increase by Sumitomo Mitsui Trust Group Inc.
  • Coca-Cola Europacific Partners has received a mix of ratings from analysts, with an average target price of $90.57 and ratings ranging from sell to strong buy, indicating varied investor sentiment.
  • Five stocks to consider instead of Coca-Cola Europacific Partners.

Mackenzie Financial Corp reduced its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,491 shares of the company's stock after selling 7,671 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Coca-Cola Europacific Partners worth $22,845,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CCEP. LPL Financial LLC raised its position in shares of Coca-Cola Europacific Partners by 28.1% in the 4th quarter. LPL Financial LLC now owns 117,700 shares of the company's stock worth $9,041,000 after acquiring an additional 25,840 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Coca-Cola Europacific Partners in the fourth quarter worth about $446,000. Pictet Asset Management Holding SA lifted its position in shares of Coca-Cola Europacific Partners by 16.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 153,260 shares of the company's stock valued at $11,791,000 after buying an additional 22,154 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Coca-Cola Europacific Partners by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 480,085 shares of the company's stock valued at $36,919,000 after buying an additional 18,300 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Coca-Cola Europacific Partners by 15.9% in the 4th quarter. Franklin Resources Inc. now owns 762,977 shares of the company's stock worth $58,604,000 after buying an additional 104,423 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen cut Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Barclays restated an "overweight" rating and set a $104.00 target price (up from $101.00) on shares of Coca-Cola Europacific Partners in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and an average target price of $90.57.

Read Our Latest Analysis on CCEP

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock traded up $0.35 during trading hours on Friday, hitting $97.27. The company's stock had a trading volume of 1,751,666 shares, compared to its average volume of 1,496,612. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11. The company has a 50 day moving average of $94.13 and a 200 day moving average of $87.92. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $100.67. The stock has a market cap of $44.84 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 4.90 and a beta of 0.75.

Coca-Cola Europacific Partners Company Profile

(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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