Coca-Cola Europacific Partners $CCEP Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Coca-Cola Europacific Partners by 10.7%, acquiring an additional 17,486 shares, bringing its total holdings to 180,852 shares valued at approximately $15.7 million.
• Several hedge funds have also significantly increased their positions in Coca-Cola Europacific Partners, with institutional investors now holding 31.35% of the company's stock.
• Analyst ratings on Coca-Cola Europacific Partners vary, with one sell rating, five hold ratings, four buy ratings, and an average price target of $90.43.

Russell Investments Group Ltd. boosted its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 10.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,852 shares of the company's stock after buying an additional 17,486 shares during the quarter. Russell Investments Group Ltd.'s holdings in Coca-Cola Europacific Partners were worth $15,726,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Assetmark Inc. lifted its stake in Coca-Cola Europacific Partners by 107.3% in the first 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 Coca-Cola Europacific Partners during the first quarter worth $28,000. Optiver Holding B.V. purchased a new position in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $29,000. Cullen Frost Bankers Inc. boosted its position in shares of Coca-Cola Europacific Partners by 204.2% during the first 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 last quarter. Finally, HM Payson & Co. purchased a new position in shares of Coca-Cola Europacific Partners during the first quarter valued at approximately $33,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley lowered Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Barclays lowered their price objective 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. Finally, Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.43.

Coca-Cola Europacific Partners Stock Down 0.4%

NASDAQ:CCEP traded down $0.3370 during midday trading on Friday, hitting $90.8530. 780,676 shares of the company were exchanged, compared to its average volume of 2,129,169. The company has a market capitalization of $41.88 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.69 and a beta of 0.75. Coca-Cola Europacific Partners has a fifty-two week low of $73.40 and a fifty-two week high of $100.67. The company has a fifty day simple moving average of $94.68 and a 200 day simple moving average of $89.57. 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 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.