Mediolanum International Funds Ltd Invests $10.63 Million in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Mediolanum International Funds Ltd has acquired a significant position in Coca-Cola Europacific Partners, purchasing 123,223 shares valued at approximately $10.63 million.
• Several hedge funds have increased their stakes in Coca-Cola Europacific Partners, indicating strong institutional interest in the stock, which is now owned 31.35% by institutional investors.
• Analysts have mixed opinions on the stock, with Barclays upgrading its price target to $104 and Wall Street Zen downgrading from "buy" to "hold," reflecting a consensus rating of "Moderate Buy."

Mediolanum International Funds Ltd purchased a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 123,223 shares of the company's stock, valued at approximately $10,634,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CCEP. Private Trust Co. NA boosted its stake in shares of 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 period. BKM Wealth Management LLC raised its holdings in shares of Coca-Cola Europacific Partners by 1.6% in the 1st quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock valued at $682,000 after purchasing an additional 124 shares in the last quarter. TIAA Trust National Association raised its holdings in shares of Coca-Cola Europacific Partners by 4.4% in the 4th quarter. TIAA Trust National Association now owns 3,420 shares of the company's stock valued at $263,000 after purchasing an additional 145 shares in the last quarter. Assetmark Inc. lifted its position in Coca-Cola Europacific Partners by 107.3% during the first quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Coca-Cola Europacific Partners by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 53,142 shares of the company's stock valued at $4,087,000 after acquiring an additional 155 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CCEP has been the topic of a number of recent analyst reports. Barclays restated an "overweight" rating and set a $104.00 price target (up previously from $101.00) on shares of Coca-Cola Europacific Partners in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and an average target price of $90.57.

Coca-Cola Europacific Partners Stock Up 0.6%

Coca-Cola Europacific Partners stock traded up $0.56 during trading on Wednesday, reaching $99.81. The stock had a trading volume of 337,567 shares, compared to its average volume of 2,144,327. Coca-Cola Europacific Partners has a 52-week low of $71.49 and a 52-week high of $100.67. The business has a 50 day moving average price of $93.75 and a 200 day moving average price of $87.69. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a market cap of $46.01 billion, a PE ratio of 20.52, a P/E/G ratio of 4.97 and a beta of 0.77.

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.