Coca-Cola Europacific Partners $CCEP Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Coca-Cola Europacific Partners by 22.0%, acquiring an additional 4,480 shares for a total of 24,839 shares valued at approximately $2.3 million.
• Several institutional investors have also shown interest in Coca-Cola Europacific Partners, with significant increases in holdings noted during the 4th quarter of the year.
• Analysts have a mixed view on Coca-Cola Europacific Partners, with one Strong Buy rating, four Buy ratings, three Hold ratings, and a consensus price target of $92.40.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 22.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,839 shares of the company's stock after purchasing an additional 4,480 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Coca-Cola Europacific Partners were worth $2,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Private Trust Co. NA raised its position in shares of Coca-Cola Europacific Partners by 6.0% in the 1st quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock valued at $176,000 after purchasing an additional 115 shares during the last quarter. BKM Wealth Management LLC raised its position in shares of Coca-Cola Europacific Partners by 1.6% in the 1st quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock valued at $682,000 after purchasing an additional 124 shares during the last quarter. Assetmark Inc. raised its position in shares of Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. RWA Wealth Partners LLC raised its position in shares of Coca-Cola Europacific Partners by 0.3% in the 1st quarter. RWA Wealth Partners LLC now owns 53,905 shares of the company's stock valued at $4,691,000 after purchasing an additional 149 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Coca-Cola Europacific Partners by 2.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,177 shares of the company's stock valued at $538,000 after purchasing an additional 150 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CCEP. 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. Barclays reduced 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. UBS Group raised 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. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and an average target price of $92.40.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP traded down $1.39 during midday trading on Monday, reaching $88.55. 1,084,965 shares of the stock were exchanged, compared to its average volume of 1,998,226. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67. The firm has a 50-day simple moving average of $92.75 and a two-hundred day simple moving average of $90.38. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65.

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.