Squarepoint Ops LLC Has $8.58 Million Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Squarepoint Ops LLC reduced its Coca-Cola Europacific Partners stake by 47.8% in the second quarter, selling 78,652 shares and retaining 85,742 shares valued at approximately $8.58 million.
• Other institutional investors increased exposure or initiated positions, including Arrowstreet Capital, HSBC, Janus Henderson and Bessemer Group; institutions collectively own 31.35% of CCEP.
• CCEP shares opened at $102.88, below the $108.44 analyst consensus target. Analysts maintain a “Moderate Buy” consensus, with seven Buy, three Hold and one Sell rating.

Squarepoint Ops LLC lessened its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 47.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,742 shares of the company's stock after selling 78,652 shares during the period. Squarepoint Ops LLC's holdings in Coca-Cola Europacific Partners were worth $8,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. SEB Asset Management AB acquired a new stake in Coca-Cola Europacific Partners during the first quarter worth about $6,759,000. Arrowstreet Capital Limited Partnership raised its position in shares of Coca-Cola Europacific Partners by 157.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 493,118 shares of the company's stock valued at $44,715,000 after buying an additional 301,910 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Coca-Cola Europacific Partners by 47.0% during the 1st quarter. Hsbc Holdings PLC now owns 167,835 shares of the company's stock worth $15,203,000 after acquiring an additional 53,696 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth approximately $97,058,000. Finally, Bessemer Group Inc. boosted its position in shares of Coca-Cola Europacific Partners by 14.5% during the 1st quarter. Bessemer Group Inc. now owns 2,289,254 shares of the company's stock worth $207,568,000 after acquiring an additional 289,080 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Trading Down 0.9%

NASDAQ CCEP opened at $102.88 on Friday. The firm's fifty day moving average price is $107.07 and its two-hundred day moving average price is $100.49. The company has a quick ratio of 0.68, a current ratio of 0.89 and a debt-to-equity ratio of 1.20. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $113.67.

Analyst Ratings Changes

A number of research analysts recently issued reports on CCEP shares. UBS Group cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $109.00 to $107.00 in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Wells Fargo & Company boosted their price target on Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Barclays upped their price objective on Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Coca-Cola Europacific Partners from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, August 27th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $108.44.

Coca-Cola Europacific Partners Profile

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Coca-Cola Europacific Partners plc NASDAQ: CCEP is a major Coca-Cola bottling partner that manufactures, markets, sells and distributes a broad portfolio of beverages. Its products include Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Fanta, Sprite, Schweppes, Powerade, Fuze Tea, smartwater, Costa Coffee and Monster Energy, among other brands.

The company serves customers across a broad geographic territory spanning Europe and the Asia-Pacific region. Its markets include Great Britain, Germany, Spain, Portugal, France, Belgium, the Netherlands, Norway, Sweden, Iceland and Switzerland, as well as Australia, New Zealand, Indonesia and selected Pacific island markets.

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