Mirae Asset Global Investments Co. Ltd. Makes New Investment in Coca-Cola Europacific Partners $CCEP

Key Points

• Mirae Asset Global Investments purchased 200,690 shares of Coca-Cola Europacific Partners in the third quarter, valued at approximately $20.4 million. Institutional investors and hedge funds collectively own 31.35% of the company.
• Analyst sentiment remains favorable, with CCEP holding a consensus “Moderate Buy” rating and an average price target of $107.11, despite recent target reductions from Barclays, Wells Fargo and UBS.
• CCEP shares opened at $115.58, near their 12-month high of $116.01 and above both their 50-day moving average of $106.20 and 200-day moving average of $100.74.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 200,690 shares of the company's stock, valued at approximately $20,412,000.

Several other institutional investors have also recently bought and sold shares of the business. Root Financial Partners LLC bought a new position in shares of Coca-Cola Europacific Partners in the third quarter valued at $30,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Coca-Cola Europacific Partners by 407.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company's stock valued at $32,000 after buying an additional 285 shares during the last quarter. Whipplewood Advisors LLC grew its holdings in shares of Coca-Cola Europacific Partners by 1,537.5% during the first quarter. Whipplewood Advisors LLC now owns 393 shares of the company's stock valued at $36,000 after buying an additional 369 shares during the last quarter. Eastern Bank bought a new stake in shares of Coca-Cola Europacific Partners during the second quarter worth about $49,000. Finally, Axiom Investment Management LLC bought a new stake in shares of Coca-Cola Europacific Partners during the first quarter worth about $72,000. Institutional investors and hedge funds own 31.35% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CCEP. Weiss Ratings upgraded shares of Coca-Cola Europacific Partners from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, October 15th. Barclays cut their price target on Coca-Cola Europacific Partners from $119.00 to $112.00 and set an "overweight" rating for the company in a research note on Friday, October 16th. Wells Fargo & Company cut their price target on Coca-Cola Europacific Partners from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. Sanford C. Bernstein reissued a "market perform" rating and set a $106.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, August 5th. Finally, UBS Group reissued a "neutral" rating and issued a $107.00 price objective (down from $109.00) on shares of Coca-Cola Europacific Partners in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and a consensus target price of $107.11.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $115.58 on Tuesday. The business's fifty day simple moving average is $106.20 and its 200 day simple moving average is $100.74. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $116.01. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20.

Coca-Cola Europacific Partners Profile

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Coca-Cola Europacific Partners plc NASDAQ: CCEP is a consumer beverage company and one of the world's largest Coca-Cola bottlers. The company manufactures, distributes and sells a broad portfolio of branded beverages, including Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Fanta, Sprite, Schweppes, Fuze Tea, Powerade, Monster Energy and Costa Coffee products, depending on the market.

CCEP serves customers across Europe and the Asia-Pacific region. Its territories include Great Britain, France, Germany, Spain, Portugal, Belgium, the Netherlands, Norway, Sweden and Iceland, as well as Australia, New Zealand, Indonesia, Papua New Guinea and several Pacific island markets.

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