Coca-Cola Europacific Partners $CCEP Shares Bought by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D increased its stake in Coca-Cola Europacific Partners by 4.7%, acquiring an additional 4,100 shares, bringing its total holdings to 92,065 shares valued at approximately $8 million.
• Other significant investors, such as Vanguard Group and Goldman Sachs, have also increased their positions in Coca-Cola Europacific Partners, with Vanguard raising its stake by 462.7%.
• Analyst ratings for CCEP show mixed sentiments, with one sell rating, five hold ratings, four buy ratings, and one strong buy, resulting in an average rating of "hold" and a price target of $90.43.

State of New Jersey Common Pension Fund D raised its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,065 shares of the company's stock after buying an additional 4,100 shares during the period. State of New Jersey Common Pension Fund D's holdings in Coca-Cola Europacific Partners were worth $8,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. 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 worth $25,000 after purchasing an additional 147 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Coca-Cola Europacific Partners in the first quarter worth $28,000. Cullen Frost Bankers Inc. increased its stake in 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 purchasing an additional 245 shares during the last quarter. Optiver Holding B.V. bought a new stake in Coca-Cola Europacific Partners during the fourth quarter valued at $29,000. Finally, HM Payson & Co. bought a new stake in Coca-Cola Europacific Partners during the first quarter valued at $33,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

CCEP stock traded down $0.8920 during trading on Friday, hitting $90.2980. The company had a trading volume of 1,293,331 shares, compared to its average volume of 2,132,443. The firm has a market capitalization of $41.62 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 2.69 and a beta of 0.75. The business has a 50 day moving average of $94.68 and a 200 day moving average of $89.57. 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 current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCEP. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Morgan Stanley lowered shares of 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 shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Barclays lowered their price target on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $90.43.

Coca-Cola Europacific Partners 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.