CI Investments Inc. Boosts Stake in Coca-Cola Europacific Partners $CCEP

CI Investments Inc. grew its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284,991 shares of the company’s stock after acquiring an additional 10,601 shares during the period. CI Investments Inc. owned about 0.06% of Coca-Cola Europacific Partners worth $25,766,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CCEP. AQR Capital Management LLC increased its holdings in Coca-Cola Europacific Partners by 10.5% during the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after purchasing an additional 677 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Coca-Cola Europacific Partners by 23.9% during the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock worth $70,000 after buying an additional 156 shares in the last quarter. Assetmark Inc. increased its stake in shares of Coca-Cola Europacific Partners by 110.2% in the second quarter. Assetmark Inc. now owns 597 shares of the company’s stock worth $55,000 after buying an additional 313 shares during the last quarter. TIAA Trust National Association raised its holdings in Coca-Cola Europacific Partners by 3.2% in the second quarter. TIAA Trust National Association now owns 3,345 shares of the company’s stock valued at $310,000 after acquiring an additional 103 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Coca-Cola Europacific Partners by 10.1% in the second quarter. Bank of New York Mellon Corp now owns 723,341 shares of the company’s stock valued at $67,068,000 after acquiring an additional 66,270 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CCEP. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $114.00 price objective on shares of Coca-Cola Europacific Partners in a report on Thursday, January 8th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. UBS Group boosted their price objective on Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. upped their price objective on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, Barclays lifted their target price on Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.71.

Coca-Cola Europacific Partners Trading Down 2.7%

CCEP opened at $105.23 on Wednesday. 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 company’s 50-day moving average price is $94.95 and its 200 day moving average price is $91.72. Coca-Cola Europacific Partners has a fifty-two week low of $80.70 and a fifty-two week high of $110.90.

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.