Public Sector Pension Investment Board Grows Position in Coca-Cola Europacific Partners $CCEP

Public Sector Pension Investment Board raised its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,283 shares of the company’s stock after purchasing an additional 13,800 shares during the period. Public Sector Pension Investment Board’s holdings in Coca-Cola Europacific Partners were worth $13,768,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CCEP. Invesco Ltd. grew its stake in shares of Coca-Cola Europacific Partners by 14.7% during the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock valued at $1,099,562,000 after buying an additional 1,523,055 shares during the period. Vanguard Group Inc. boosted its holdings in Coca-Cola Europacific Partners by 8.1% in the second quarter. Vanguard Group Inc. now owns 10,682,027 shares of the company’s stock valued at $984,804,000 after acquiring an additional 798,427 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Coca-Cola Europacific Partners by 138.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock valued at $527,595,000 after acquiring an additional 3,392,680 shares during the last quarter. Truist Financial Corp grew its position in Coca-Cola Europacific Partners by 10,480.7% during the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after acquiring an additional 4,711,093 shares during the period. Finally, State Street Corp increased its stake in Coca-Cola Europacific Partners by 5.3% during the second quarter. State Street Corp now owns 4,729,040 shares of the company’s stock worth $438,477,000 after acquiring an additional 239,400 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America reaffirmed a “neutral” rating and issued a $96.00 price objective (down from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, January 9th. Barclays reiterated an “overweight” rating and set a $101.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $114.00 target price on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Finally, UBS Group reduced their target price on shares of Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average target price of $100.80.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $99.51 on Monday. The firm’s 50 day moving average is $91.31 and its 200-day moving average is $90.71. Coca-Cola Europacific Partners has a 52-week low of $80.70 and a 52-week high of $100.67. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

Coca-Cola Europacific Partners Company 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.