Prudential PLC Increases Stake in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Prudential PLC increased its stake in Coca-Cola Europacific Partners by 43.9%, owning 65,146 shares valued at $5,670,000 after the acquisition of an additional 19,867 shares.
• The company has a market cap of $42.39 billion and a PE ratio of 18.92, with share prices fluctuating between a 52-week low of $73.40 and a high of $100.67.
• Analysts have varied opinions on Coca-Cola Europacific Partners, with one analyst rating it a sell, four a buy, and one a strong buy, leading to a consensus rating of "Hold" with a target price of $90.43.

Prudential PLC lifted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,146 shares of the company's stock after purchasing an additional 19,867 shares during the quarter. Prudential PLC's holdings in Coca-Cola Europacific Partners were worth $5,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCEP. Invesco Ltd. boosted its holdings in Coca-Cola Europacific Partners by 2.1% in the first quarter. Invesco Ltd. now owns 10,335,894 shares of the company's stock valued at $899,533,000 after purchasing an additional 215,966 shares during the period. Vanguard Group Inc. boosted its holdings in Coca-Cola Europacific Partners by 462.7% in the first quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company's stock valued at $862,167,000 after purchasing an additional 8,126,996 shares during the period. Goldman Sachs Group Inc. lifted its holdings in 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 buying an additional 1,214,493 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Coca-Cola Europacific Partners by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,030,119 shares of the company's stock worth $263,711,000 after buying an additional 142,019 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Coca-Cola Europacific Partners by 1.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company's stock worth $190,243,000 after purchasing an additional 38,911 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded up $0.05 during mid-day trading on Friday, reaching $90.70. The company had a trading volume of 1,943,223 shares, compared to its average volume of 1,847,624. The company's 50 day simple moving average is $94.83 and its 200 day simple moving average is $89.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. Coca-Cola Europacific Partners has a 1-year low of $73.40 and a 1-year high of $100.67. The company has a market capitalization of $41.81 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.63 and a beta of 0.75.

Wall Street Analysts Forecast Growth

Several equities analysts 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 report on Saturday, July 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Barclays dropped their target price on 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. Morgan Stanley cut Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Finally, UBS Group boosted their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" 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.