United Services Automobile Association Buys New Position in Coca-Cola Europacific Partners $CCEP

Key Points

• United Services Automobile Association acquired 7,016 shares of Coca-Cola Europacific Partners, valuing approximately $605,000, marking a new investment position during the first quarter.
• Multiple institutional investors, including Assetmark Inc. and Cullen Frost Bankers Inc., have significantly increased their holdings in Coca-Cola Europacific Partners, indicating a growing interest in the stock.
• Coca-Cola Europacific Partners' stock has seen a 1.5% increase, with analysts providing mixed ratings but a consensus target price of $92.40, reflecting ongoing interest in the company's future performance.

United Services Automobile Association bought a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,016 shares of the company's stock, valued at approximately $605,000.

Several other institutional investors have also modified their holdings of CCEP. Bank of New York Mellon Corp raised its holdings in Coca-Cola Europacific Partners by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company's stock worth $57,185,000 after purchasing an additional 13,981 shares during the last quarter. Siemens Fonds Invest GmbH raised its stake in shares of 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 worth $1,246,000 after buying an additional 7,165 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 52.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company's stock worth $991,000 after buying an additional 3,893 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Coca-Cola Europacific Partners by 12.3% in the 4th quarter. Cetera Investment Advisers now owns 31,339 shares of the company's stock worth $2,407,000 after buying an additional 3,435 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Coca-Cola Europacific Partners by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 20,141 shares of the company's stock valued at $1,753,000 after acquiring an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Down 0.4%

Shares of NASDAQ:CCEP traded down $0.35 during midday trading on Friday, reaching $89.71. The company's stock had a trading volume of 1,128,912 shares, compared to its average volume of 2,030,219. The firm has a market cap of $41.35 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. The business has a 50 day moving average price of $93.40 and a 200 day moving average price of $90.19. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15.

Analyst Ratings Changes

Several brokerages have issued reports on CCEP. Morgan Stanley downgraded shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Barclays cut their price objective on 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 increased their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Finally, Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One equities research 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 issued a Sell rating to the company. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and a consensus target price of $92.40.

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.