Smith Group Asset Management LLC Boosts Stock Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Smith Group Asset Management LLC increased its stake in Coca-Cola Europacific Partners by 5.8% through the acquisition of 4,510 additional shares, bringing its total holdings to 82,641 shares valued at approximately $7.66 million.
• Several institutional investors have also adjusted their positions in Coca-Cola Europacific Partners, with significant increases from firms like Vontobel Holding Ltd. (85.3% increase) and others contributing to heightened institutional ownership of 31.35%.
• Analysts have mixed views on Coca-Cola Europacific Partners' stock, with Barclays lowering its price target, while Weiss Ratings maintained a "buy" rating; overall, the consensus rating sits at "Hold" with a target price of $92.40.

Smith Group Asset Management LLC grew its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,641 shares of the company's stock after acquiring an additional 4,510 shares during the period. Smith Group Asset Management LLC's holdings in Coca-Cola Europacific Partners were worth $7,662,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Coca-Cola Europacific Partners by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company's stock worth $57,185,000 after acquiring an additional 13,981 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Coca-Cola Europacific Partners by 0.8% in the second quarter. Nordea Investment Management AB now owns 1,239,257 shares of the company's stock worth $113,999,000 after buying an additional 10,014 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Coca-Cola Europacific Partners by 52.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company's stock worth $991,000 after buying an additional 3,893 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Coca-Cola Europacific Partners by 3.1% in the first quarter. Bessemer Group Inc. now owns 20,141 shares of the company's stock worth $1,753,000 after buying an additional 605 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Coca-Cola Europacific Partners by 85.3% in the first quarter. Vontobel Holding Ltd. now owns 610,289 shares of the company's stock worth $51,909,000 after buying an additional 280,867 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCEP. 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. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Weiss Ratings reissued a "buy (b+)" rating on shares of Coca-Cola Europacific Partners in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $92.40.

Coca-Cola Europacific Partners Stock Down 1.3%

CCEP opened at $91.29 on Friday. The business's fifty day simple moving average is $89.40 and its 200 day simple moving average is $91.05. Coca-Cola Europacific Partners has a 52 week low of $73.40 and a 52 week high of $100.67. The stock has a market cap of $42.08 billion, a PE ratio of 18.78, a P/E/G ratio of 2.65 and a beta of 0.77. 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 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.

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