Nuveen LLC Makes New Investment in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Nuveen LLC has acquired approximately 1,861,841 shares, worth $162 million, in Coca-Cola Europacific Partners, representing a 0.40% ownership stake as of the end of the last quarter.
• Several institutional investors, including Vanguard Group, have significantly increased their holdings in Coca-Cola Europacific Partners, indicating increased confidence in the company's stock.
• Research analysts have mixed opinions on the stock, with UBS raising its price target to $105 while others like Barclays and Morgan Stanley have made slight adjustments to their ratings.

Nuveen LLC bought a new position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,861,841 shares of the company's stock, valued at approximately $162,036,000. Nuveen LLC owned 0.40% of Coca-Cola Europacific Partners at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CCEP. Vanguard Group Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 462.7% during the 1st quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company's stock worth $862,167,000 after acquiring an additional 8,126,996 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 253.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock worth $169,537,000 after acquiring an additional 1,397,394 shares during the last quarter. Barclays PLC boosted its stake in shares of Coca-Cola Europacific Partners by 236.4% during the 4th quarter. Barclays PLC now owns 1,804,855 shares of the company's stock worth $138,631,000 after acquiring an additional 1,268,401 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 24.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company's stock worth $540,050,000 after acquiring an additional 1,214,493 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Coca-Cola Europacific Partners by 842.4% during the 4th quarter. Jane Street Group LLC now owns 714,988 shares of the company's stock worth $54,918,000 after acquiring an additional 639,119 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of 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. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday. Barclays lowered their target price on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Friday. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $90.43.

Coca-Cola Europacific Partners Stock Down 0.3%

Shares of CCEP stock opened at $94.51 on Tuesday. The stock has a market cap of $43.56 billion, a P/E ratio of 19.45, a PEG ratio of 2.49 and a beta of 0.75. Coca-Cola Europacific Partners has a 52 week low of $72.97 and a 52 week high of $100.67. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The company's fifty day simple moving average is $94.84 and its two-hundred day simple moving average is $89.00.

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.

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