Intech Investment Management LLC Takes $980,000 Position in Coca-Cola Europacific Partners $CCEP

Intech Investment Management LLC acquired a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,843 shares of the company’s stock, valued at approximately $980,000.

A number of other large investors have also added to or reduced their stakes in CCEP. Invesco Ltd. boosted its position in Coca-Cola Europacific Partners by 14.7% during the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock worth $1,099,562,000 after buying an additional 1,523,055 shares during the period. Vanguard Group Inc. increased its position in Coca-Cola Europacific Partners by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,960,110 shares of the company’s stock valued at $994,598,000 after acquiring an additional 278,083 shares during the period. Massachusetts Financial Services Co. MA increased its position in Coca-Cola Europacific Partners by 138.9% in the 3rd 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 period. Truist Financial Corp raised its stake in shares of 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 last quarter. Finally, State Street Corp raised its stake in shares of 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 valued at $438,477,000 after acquiring an additional 239,400 shares during the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $100.22 on Monday. The business has a 50 day simple moving average of $95.58 and a 200 day simple moving average of $91.96. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a one year low of $80.70 and a one year high of $110.90.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CCEP. Evercore reissued an “outperform” rating and issued a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. JPMorgan Chase & Co. raised their target price on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a report on Thursday, January 8th. The Goldman Sachs Group upped their price target on 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 reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.71.

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.