TD Asset Management Inc Increases Stake in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• TD Asset Management Inc increased its stake in Coca-Cola Europacific Partners by 3.9% during the first quarter, now owning approximately 780,479 shares valued at $67,925,000.
• A variety of large investors have also adjusted their positions in CCEP, with Assetmark Inc increasing its stake by 107.3% and several new stakes introduced during the same period.
• Brokerages have varied opinions on CCEP, with Barclays and UBS raising their price targets, while Wall Street Zen downgraded the stock from a "buy" to a "hold" rating, indicating mixed outlooks among analysts.

TD Asset Management Inc lifted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 780,479 shares of the company's stock after purchasing an additional 29,227 shares during the quarter. TD Asset Management Inc owned 0.17% of Coca-Cola Europacific Partners worth $67,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Coca-Cola Europacific Partners by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company's stock worth $57,185,000 after acquiring an additional 13,981 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Coca-Cola Europacific Partners by 28.1% in the 4th quarter. LPL Financial LLC now owns 117,700 shares of the company's stock valued at $9,041,000 after purchasing an additional 25,840 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock valued at $221,835,000 after purchasing an additional 872,060 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth approximately $446,000. Finally, Siemens Fonds Invest GmbH lifted its holdings in Coca-Cola Europacific Partners by 79.1% during the 4th quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company's stock valued at $1,246,000 after buying an additional 7,165 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Up 1.1%

CCEP traded up $1.09 on Tuesday, hitting $99.25. The company had a trading volume of 1,672,160 shares, compared to its average volume of 2,157,411. Coca-Cola Europacific Partners has a 1 year low of $71.49 and a 1 year high of $100.67. The firm has a market cap of $45.75 billion, a P/E ratio of 20.42, a PEG ratio of 5.06 and a beta of 0.77. The company's fifty day moving average price is $93.54 and its 200 day moving average price is $87.60. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CCEP shares. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. UBS Group lifted their price target on 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. Finally, Barclays reiterated an "overweight" rating and set a $104.00 price objective (up from $101.00) on shares of Coca-Cola Europacific Partners in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.57.

Coca-Cola Europacific Partners Company 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.