Public Sector Pension Investment Board Raises Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• The Public Sector Pension Investment Board increased its stake in Coca-Cola Europacific Partners by 7.0%, owning 124,683 shares valued at approximately $10.85 million.
• Several institutional investors, including Advisory Services Network LLC and Raymond James Financial Inc., also expanded their holdings in the company, indicating strong institutional interest.
• Coca-Cola Europacific Partners has a current trading price of around $91.96, with Wall Street analysts' forecasts showing price targets ranging from $90.43 to $105.00.

Public Sector Pension Investment Board raised its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 124,683 shares of the company's stock after purchasing an additional 8,200 shares during the quarter. Public Sector Pension Investment Board's holdings in Coca-Cola Europacific Partners were worth $10,851,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after buying an additional 147 shares during the period. NBC Securities Inc. acquired a new position in shares of Coca-Cola Europacific Partners in the 1st quarter valued at about $28,000. Optiver Holding B.V. acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at about $29,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after buying an additional 245 shares during the period. Finally, HM Payson & Co. acquired a new position in shares of Coca-Cola Europacific Partners in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP traded up $0.05 during trading hours on Friday, hitting $90.70. 1,943,223 shares of the stock were exchanged, compared to its average volume of 1,847,624. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15. The firm's fifty day moving average price is $94.83 and its 200 day moving average price is $89.31. The company has a market cap of $41.81 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.63 and a beta of 0.75. Coca-Cola Europacific Partners has a 52-week low of $73.40 and a 52-week high of $100.67.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays reduced their price target on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Wall Street Zen cut Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. UBS Group upped their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Finally, Morgan Stanley cut Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.