Avanza Fonder AB Takes $744,000 Position in Coca-Cola Europacific Partners $CCEP

Avanza Fonder AB bought a new stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,198 shares of the company’s stock, valued at approximately $744,000.

A number of other large investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its position in Coca-Cola Europacific Partners by 13.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,094 shares of the company’s stock worth $11,129,000 after acquiring an additional 14,670 shares during the last quarter. Intech Investment Management LLC bought a new stake in Coca-Cola Europacific Partners in the third quarter valued at approximately $980,000. First Trust Advisors LP boosted its stake in shares of Coca-Cola Europacific Partners by 148.4% during the second quarter. First Trust Advisors LP now owns 1,005,817 shares of the company’s stock valued at $93,259,000 after purchasing an additional 600,962 shares during the period. Vestcor Inc grew its holdings in shares of Coca-Cola Europacific Partners by 14.4% in the third quarter. Vestcor Inc now owns 80,665 shares of the company’s stock worth $7,293,000 after purchasing an additional 10,125 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 11.8% in the third quarter. iA Global Asset Management Inc. now owns 124,169 shares of the company’s stock worth $11,226,000 after purchasing an additional 13,135 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. The Goldman Sachs Group boosted 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. Evercore reaffirmed an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. Finally, Bank of America reiterated a “neutral” rating and set a $96.00 target price (down from $102.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.71.

Coca-Cola Europacific Partners Trading Up 1.1%

Shares of CCEP stock opened at $93.23 on Thursday. The stock has a fifty day moving average of $97.85 and a 200 day moving average of $92.73. Coca-Cola Europacific Partners has a 52 week low of $81.00 and a 52 week high of $110.90. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23.

About Coca-Cola Europacific Partners

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.