Vanguard Group Inc. Grows Stock Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Vanguard Group Inc. significantly increased its stake in Coca-Cola Europacific Partners by 462.7% in the first quarter, owning 9,883,600 shares valued at approximately $862 million.
• Several institutional investors, including Goldman Sachs and Barclays, have also raised their positions in Coca-Cola Europacific Partners, indicating growing interest among hedge funds.
• Analysts have mixed ratings for the company, with one analyst issuing a sell rating, while the average target price stands at $90.43, suggesting cautious sentiment in the market.

Vanguard Group Inc. lifted its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 462.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,883,600 shares of the company's stock after acquiring an additional 8,126,996 shares during the quarter. Vanguard Group Inc. owned 2.14% of Coca-Cola Europacific Partners worth $862,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assetmark Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 107.3% in the first quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Coca-Cola Europacific Partners in the first quarter valued at about $28,000. Optiver Holding B.V. bought a new position in Coca-Cola Europacific Partners in the fourth quarter worth about $29,000. Cullen Frost Bankers Inc. raised its holdings in Coca-Cola Europacific Partners by 204.2% in the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after purchasing an additional 245 shares in the last quarter. Finally, HM Payson & Co. bought a new position in Coca-Cola Europacific Partners in the first quarter worth about $33,000. 31.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. UBS Group boosted their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Barclays reduced their target price on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $90.43.

Coca-Cola Europacific Partners Stock Down 1.4%

Shares of CCEP stock traded down $1.31 during trading hours on Thursday, reaching $90.65. 1,805,596 shares of the company's stock were exchanged, compared to its average volume of 2,152,288. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. The stock has a market cap of $41.79 billion, a PE ratio of 18.65, a PEG ratio of 2.70 and a beta of 0.75. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15. The stock's fifty day moving average price is $94.91 and its two-hundred day moving average price is $89.05.

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.