Citigroup Inc. Buys 103,561 Shares of Coca-Cola Europacific Partners $CCEP

Citigroup Inc. raised its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 18.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 652,954 shares of the company’s stock after acquiring an additional 103,561 shares during the period. Citigroup Inc.’s holdings in Coca-Cola Europacific Partners were worth $59,034,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Coca-Cola Europacific Partners by 13.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,094 shares of the company’s stock valued at $11,129,000 after buying an additional 14,670 shares during the last quarter. First Trust Advisors LP lifted its position in Coca-Cola Europacific Partners by 148.4% in the 2nd quarter. First Trust Advisors LP now owns 1,005,817 shares of the company’s stock valued at $93,259,000 after acquiring an additional 600,962 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in Coca-Cola Europacific Partners by 11.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 124,169 shares of the company’s stock valued at $11,226,000 after purchasing an additional 13,135 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Coca-Cola Europacific Partners by 14.1% in the 2nd quarter. Profund Advisors LLC now owns 34,161 shares of the company’s stock worth $3,167,000 after purchasing an additional 4,226 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Coca-Cola Europacific Partners by 2.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,189,955 shares of the company’s stock worth $197,994,000 after purchasing an additional 47,240 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 1.7%

Shares of NASDAQ:CCEP opened at $107.49 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. The firm’s 50 day moving average price is $93.01 and its 200-day moving average price is $91.07. Coca-Cola Europacific Partners has a twelve month low of $80.70 and a twelve month high of $107.90.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CCEP shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. The Goldman Sachs Group increased their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.71.

Coca-Cola Europacific Partners Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.