Manning & Napier Advisors LLC Buys Shares of 30,051 Coca-Cola Europacific Partners $CCEP

Key Points

• Manning & Napier Advisors initiated a Coca-Cola Europacific Partners position by purchasing 30,051 shares valued at approximately $3.05 million. Institutional investors collectively own 31.35% of CCEP.
• Analyst sentiment is favorable, with seven Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $108.56. Recent targets range from $106 to $120.
• CCEP shares opened at $109.85, above their 50-day and 200-day moving averages of $105.41 and $99.91, respectively, and remain near their 52-week high of $113.67.

Manning & Napier Advisors LLC bought a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,051 shares of the company's stock, valued at approximately $3,047,000.

Other large investors have also modified their holdings of the company. Boston Partners increased its stake in Coca-Cola Europacific Partners by 2.6% in the 3rd quarter. Boston Partners now owns 6,266,512 shares of the company's stock valued at $566,051,000 after buying an additional 156,613 shares during the period. State Street Corp lifted its stake in shares of Coca-Cola Europacific Partners by 0.7% in the 3rd quarter. State Street Corp now owns 4,760,094 shares of the company's stock worth $430,360,000 after acquiring an additional 31,054 shares during the period. Norges Bank purchased a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at about $363,294,000. FIL Ltd boosted its holdings in shares of Coca-Cola Europacific Partners by 0.3% in the fourth quarter. FIL Ltd now owns 3,793,166 shares of the company's stock valued at $344,312,000 after acquiring an additional 10,801 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Coca-Cola Europacific Partners by 4.9% during the fourth quarter. Morgan Stanley now owns 3,494,328 shares of the company's stock worth $316,936,000 after acquiring an additional 163,808 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

CCEP has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Barclays boosted their target price on Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. UBS Group downgraded Coca-Cola Europacific Partners from a "buy" rating to a "neutral" rating and cut their target price for the stock from $109.00 to $107.00 in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $106.00 price target on shares of Coca-Cola Europacific Partners in a research note on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $108.56.

Coca-Cola Europacific Partners Stock Performance

CCEP stock opened at $109.85 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.68. The company's 50-day moving average price is $105.41 and its 200 day moving average price is $99.91. Coca-Cola Europacific Partners has a 52 week low of $84.65 and a 52 week high of $113.67.

About Coca-Cola Europacific Partners

• Why Chemours Co NYSE: CC Stock is the Recipe for Gains

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.

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