Mirae Asset Global Investments Co. Ltd. Boosts Stake in Coca-Cola Europacific Partners $CCEP

Key Points

• Mirae Asset Global Investments Co. Ltd. has increased its stake in Coca-Cola Europacific Partners by 8.3%, owning 108,424 shares valued at approximately $10.05 million.
• Institutional investors hold 31.35% of Coca-Cola Europacific Partners stock, with notable increases in holdings from firms like Assetmark Inc. and Motco.
• Analyst ratings are mixed, with five analysts giving a Buy rating, while others have issued Hold or Sell ratings, reflecting uncertainty in the stock's outlook.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,424 shares of the company's stock after purchasing an additional 8,278 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Coca-Cola Europacific Partners were worth $10,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. lifted its position in Coca-Cola Europacific Partners by 107.3% in the first quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after buying an additional 147 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter valued at approximately $28,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after acquiring an additional 245 shares during the last quarter. HM Payson & Co. purchased a new position in shares of Coca-Cola Europacific Partners during the 1st quarter worth approximately $33,000. Finally, Motco increased its holdings in Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company's stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on CCEP shares. Morgan Stanley cut Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. UBS Group lifted their target price on 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. Weiss Ratings reissued a "buy (b+)" rating on shares of Coca-Cola Europacific Partners in a research report on Saturday, September 27th. Finally, Barclays dropped 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 report on Friday, August 8th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $92.40.

Coca-Cola Europacific Partners Stock Performance

Shares of Coca-Cola Europacific Partners stock opened at $87.77 on Monday. The firm's fifty day simple moving average is $91.11 and its 200-day simple moving average is $90.77. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67. The stock has a market capitalization of $40.46 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.47 and a beta of 0.76. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65.

About Coca-Cola Europacific Partners

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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