SCS Capital Management LLC Buys Shares of 36,300 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 bought a new stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 36,300 shares of the company's stock, valued at approximately $3,159,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Axiom Investors LLC DE boosted its holdings in Coca-Cola Europacific Partners by 48.5% during the 1st quarter. Axiom Investors LLC DE now owns 166,475 shares of the company's stock valued at $14,488,000 after acquiring an additional 54,350 shares during the period. United Services Automobile Association purchased a new position in Coca-Cola Europacific Partners during the 1st quarter valued at about $605,000. Goldman Sachs Group Inc. boosted 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 valued at $540,050,000 after acquiring an additional 1,214,493 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in Coca-Cola Europacific Partners by 13.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 81,468 shares of the company's stock valued at $7,090,000 after acquiring an additional 9,738 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Coca-Cola Europacific Partners by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 305,684 shares of the company's stock valued at $26,604,000 after purchasing an additional 31,980 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays reduced their price target 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. UBS Group increased their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley lowered Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.40.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP traded down $0.66 during mid-day trading on Monday, reaching $89.06. 514,806 shares of the stock were exchanged, compared to its average volume of 2,135,202. The company has a 50 day simple moving average of $93.40 and a 200-day simple moving average of $90.25. The stock has a market capitalization of $41.05 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.60 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67.

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.