Norinchukin Bank The Buys 7,922 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Norinchukin Bank boosted its stake in Coca-Cola Europacific Partners by 174.2% in Q1, acquiring an additional 7,922 shares, increasing its total ownership to 12,470 shares worth approximately $1,085,000.
• Other institutional investors also increased their positions, with hedge funds now owning 31.35% of Coca-Cola Europacific Partners' stock, reflecting a general trend of growing investment interest.
• Analyst ratings for CCEP are mixed; while UBS raised its target price to $105 with a "buy" rating, Morgan Stanley downgraded it to "equal weight," indicating variability in market confidence.

Norinchukin Bank The boosted its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 174.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,470 shares of the company's stock after buying an additional 7,922 shares during the quarter. Norinchukin Bank The's holdings in Coca-Cola Europacific Partners were worth $1,085,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Private Trust Co. NA increased its position in 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 valued at $176,000 after purchasing an additional 115 shares during the period. BKM Wealth Management LLC increased its position in Coca-Cola Europacific Partners by 1.6% during 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 during the period. Assetmark Inc. increased its position in Coca-Cola Europacific Partners by 107.3% during the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after purchasing an additional 147 shares during the period. RWA Wealth Partners LLC increased its position in Coca-Cola Europacific Partners by 0.3% during the 1st quarter. RWA Wealth Partners LLC now owns 53,905 shares of the company's stock valued at $4,691,000 after purchasing an additional 149 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Coca-Cola Europacific Partners by 2.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,177 shares of the company's stock valued at $538,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $90.34 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67. The company has a 50 day simple moving average of $94.63 and a two-hundred day simple moving average of $89.73. The stock has a market cap of $41.64 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.62 and a beta of 0.75.

Analyst Upgrades and Downgrades

CCEP has been the topic of a number of research reports. Morgan Stanley downgraded shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. UBS Group raised their target price on shares of 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. Barclays cut their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.43.

Coca-Cola Europacific Partners Company 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.

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