Sterling Capital Management LLC Acquires 17,254 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Sterling Capital Management increased its Coca-Cola Europacific Partners stake by 7.9% in the third quarter, acquiring 17,254 shares and bringing its holdings to 234,373 shares worth approximately $23.8 million.
• Several other institutional investors also expanded their positions, including Robeco Institutional Asset Management, which increased its holdings by 604.7%; institutional investors collectively own 31.35% of CCEP.
• CCEP shares recently traded at $110.84, near their 52-week high, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $107.11.

Sterling Capital Management LLC increased its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,373 shares of the company's stock after acquiring an additional 17,254 shares during the period. Sterling Capital Management LLC owned approximately 0.05% of Coca-Cola Europacific Partners worth $23,838,000 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 stock. Root Financial Partners LLC acquired a new stake in shares of Coca-Cola Europacific Partners during the 3rd quarter worth about $30,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Coca-Cola Europacific Partners during the third quarter worth approximately $2,582,000. Robeco Institutional Asset Management B.V. boosted its holdings in Coca-Cola Europacific Partners by 604.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 111,249 shares of the company's stock valued at $11,315,000 after purchasing an additional 95,462 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Coca-Cola Europacific Partners by 10.8% in the third quarter. TD Waterhouse Canada Inc. now owns 161,034 shares of the company's stock valued at $16,243,000 after purchasing an additional 15,740 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Coca-Cola Europacific Partners by 157.1% in the third quarter. Assenagon Asset Management S.A. now owns 72,007 shares of the company's stock valued at $7,324,000 after purchasing an additional 44,000 shares during the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

CCEP stock traded down $3.39 on Friday, hitting $110.84. The company's stock had a trading volume of 1,623,220 shares, compared to its average volume of 1,743,947. The firm has a 50 day moving average of $105.53 and a two-hundred day moving average of $101.64. 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 1 year low of $84.65 and a 1 year high of $114.55.

Analysts Set New Price Targets

Several equities research analysts recently commented on CCEP shares. Weiss Ratings upgraded shares of Coca-Cola Europacific Partners from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, October 15th. Barclays decreased their price objective on shares of Coca-Cola Europacific Partners from $119.00 to $112.00 and set an "overweight" rating for the company in a research note on Friday, October 16th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $92.00 price objective on shares of Coca-Cola Europacific Partners in a report on Friday, September 4th. UBS Group reissued a "neutral" rating and issued a $107.00 target price (down from $109.00) on shares of Coca-Cola Europacific Partners in a report on Monday, October 5th. Finally, ING Group cut Coca-Cola Europacific Partners to a "hold" rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $107.11.

About Coca-Cola Europacific Partners

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Coca-Cola Europacific Partners plc NASDAQ: CCEP is a consumer beverage company and one of the world's largest Coca-Cola bottlers. The company manufactures, distributes and sells a broad portfolio of branded beverages, including Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Fanta, Sprite, Schweppes, Fuze Tea, Powerade, Monster Energy and Costa Coffee products, depending on the market.

CCEP serves customers across Europe and the Asia-Pacific region. Its territories include Great Britain, France, Germany, Spain, Portugal, Belgium, the Netherlands, Norway, Sweden and Iceland, as well as Australia, New Zealand, Indonesia, Papua New Guinea and several Pacific island markets.

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