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

Key Points

• Mirae Asset Global Investments increased its stake in Coca‑Cola Europacific Partners by 17.5% in Q4, acquiring an additional 21,587 shares to hold 144,681 shares valued at about $13.12 million.
• Other institutions also raised positions—most notably Sumitomo Mitsui Trust Group, which owns 2,189,955 shares (~$197.99 million)—and overall hedge funds and institutional investors hold 31.35% of the stock.
• Analyst sentiment is generally positive with an average rating of "Moderate Buy" and an average price target of $107; seven analysts rate the stock Buy and three rate it Hold, with recent targets ranging from $93 to $110.

Mirae Asset Global Investments Co. Ltd. increased its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,681 shares of the company's stock after acquiring an additional 21,587 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Coca-Cola Europacific Partners were worth $13,123,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC purchased a new position in shares of Coca-Cola Europacific Partners during the third quarter valued at approximately $980,000. Vestcor Inc boosted its position in shares of Coca-Cola Europacific Partners by 14.4% during the third quarter. Vestcor Inc now owns 80,665 shares of the company's stock valued at $7,293,000 after buying an additional 10,125 shares during the period. iA Global Asset Management Inc. boosted its position in shares of Coca-Cola Europacific Partners by 11.8% during the third quarter. iA Global Asset Management Inc. now owns 124,169 shares of the company's stock valued at $11,226,000 after buying an additional 13,135 shares during the period. NEOS Investment Management LLC boosted its position in shares of Coca-Cola Europacific Partners by 77.1% during the third quarter. NEOS Investment Management LLC now owns 146,000 shares of the company's stock valued at $13,200,000 after buying an additional 63,554 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Coca-Cola Europacific Partners by 2.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,189,955 shares of the company's stock valued at $197,994,000 after buying an additional 47,240 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $98.80 on Monday. The company has a 50 day moving average price of $98.93 and a 200-day moving average price of $93.35. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. JPMorgan Chase & Co. boosted their target price on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. Barclays dropped their target price on Coca-Cola Europacific Partners from $111.00 to $106.00 and set an "overweight" rating for the company in a research report on Tuesday, April 14th. The Goldman Sachs Group lifted their price target on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $107.00.

Coca-Cola Europacific Partners Profile

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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