Swiss National Bank Trims Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• The Swiss National Bank reduced its stake in Coca-Cola Europacific Partners by 2.3%, owning 594,514 shares valued at approximately $51.7 million after selling 14,100 shares in the first quarter.
• Several institutional investors have raised their positions in CCEP, with Federated Hermes Inc. increasing its stake by 27% in the fourth quarter alone.
• Equity analysts have mixed views on CCEP, with ratings varying from buy to hold and a consensus price target set at $90.43.

Swiss National Bank decreased its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 594,514 shares of the company's stock after selling 14,100 shares during the quarter. Swiss National Bank owned about 0.13% of Coca-Cola Europacific Partners worth $51,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCEP. Federated Hermes Inc. raised its position in Coca-Cola Europacific Partners by 27.0% in the 4th quarter. Federated Hermes Inc. now owns 44,070 shares of the company's stock valued at $3,385,000 after purchasing an additional 9,364 shares during the last quarter. Advisory Services Network LLC acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at $262,000. Raymond James Financial Inc. acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at $14,999,000. Rockefeller Capital Management L.P. increased its stake in Coca-Cola Europacific Partners by 2.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 35,730 shares of the company's stock valued at $2,741,000 after buying an additional 907 shares during the period. Finally, Townsquare Capital LLC increased its stake in Coca-Cola Europacific Partners by 27.4% in the 4th quarter. Townsquare Capital LLC now owns 4,417 shares of the company's stock valued at $339,000 after buying an additional 949 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday. UBS Group boosted their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Barclays dropped their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $90.43.

Coca-Cola Europacific Partners Trading Up 1.7%

Shares of CCEP stock opened at $94.76 on Monday. The firm has a market cap of $43.68 billion, a P/E ratio of 19.50, a PEG ratio of 2.49 and a beta of 0.75. Coca-Cola Europacific Partners has a 1-year low of $72.50 and a 1-year high of $100.67. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. The firm's 50-day simple moving average is $94.78 and its 200-day simple moving average is $88.88.

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.

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