Northern Trust Corp Has $140.57 Million Stock Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Northern Trust Corp increased its holdings in Coca-Cola Europacific Partners by 4.7%, now owning approximately 1,615,192 shares valued at $140.57 million.
• Several hedge funds, including Private Trust Co. and BKM Wealth Management, also raised their positions in Coca-Cola Europacific Partners during the same quarter, indicating increasing institutional interest in the company.
• Analysts have a consensus rating of "Moderate Buy" for Coca-Cola Europacific Partners, with the average price target set at $90.43.

Northern Trust Corp boosted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,615,192 shares of the company's stock after buying an additional 72,824 shares during the period. Northern Trust Corp owned 0.35% of Coca-Cola Europacific Partners worth $140,570,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CCEP. Assetmark Inc. increased 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 worth $25,000 after buying an additional 147 shares during the period. NBC Securities Inc. bought a new position in shares of Coca-Cola Europacific Partners in the first quarter worth $28,000. Optiver Holding B.V. bought a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $29,000. Cullen Frost Bankers Inc. grew its stake in shares of Coca-Cola Europacific Partners by 204.2% in the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after purchasing an additional 245 shares in the last quarter. Finally, HM Payson & Co. bought a new position in shares of Coca-Cola Europacific Partners in the first quarter worth $33,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

CCEP stock traded down $0.82 during trading hours on Wednesday, hitting $88.46. 1,050,985 shares of the stock traded hands, compared to its average volume of 2,128,073. The stock has a 50-day simple moving average of $94.51 and a 200 day simple moving average of $89.86. Coca-Cola Europacific Partners has a one year low of $73.40 and a one year high of $100.67. The company has a market cap of $40.78 billion, a P/E ratio of 18.21, a P/E/G ratio of 2.60 and a beta of 0.75. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CCEP shares. Wall Street Zen cut Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Morgan Stanley cut Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Barclays decreased their price target on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, UBS Group increased their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.43.

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.