SCS Capital Management LLC Buys New Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• SCS Capital Management LLC has invested approximately $3.16 million in Coca-Cola Europacific Partners by acquiring 36,300 shares during the first quarter.
• Other institutional investors also increased their stakes in the company, with notable raises from Axiom Investors LLC, Goldman Sachs, and Nissay Asset Management Corp Japan.
• Coca-Cola Europacific Partners stock has a current market cap of $42.15 billion and analysts have set an average price target of $92.40, reflecting a "Moderate Buy" rating.

SCS Capital Management LLC acquired a new stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 36,300 shares of the company's stock, valued at approximately $3,159,000.

A number of other hedge funds have also recently made changes to their positions in CCEP. Assetmark Inc. lifted its position in shares of Coca-Cola Europacific Partners by 107.3% during the first quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. NBC Securities Inc. bought a new stake in Coca-Cola Europacific Partners in the first quarter worth about $28,000. Cullen Frost Bankers Inc. raised its position in 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 acquiring an additional 245 shares during the period. HM Payson & Co. purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter worth about $33,000. Finally, Motco increased its stake in shares of Coca-Cola Europacific Partners by 285.7% in the first quarter. Motco now owns 405 shares of the company's stock worth $35,000 after purchasing an additional 300 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCEP has been the subject of several recent analyst reports. UBS Group boosted their price objective 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. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Barclays cut their price objective on shares of 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, Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and a consensus price target of $92.40.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock traded down $0.35 on Friday, reaching $89.71. The company's stock had a trading volume of 1,128,912 shares, compared to its average volume of 2,030,219. The stock's fifty day simple moving average is $93.40 and its 200-day simple moving average is $90.19. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. 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 company has a market capitalization of $41.35 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78.

About Coca-Cola Europacific Partners

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.