Coca-Cola Europacific Partners $CCEP Shares Purchased by Saudi Central Bank

Saudi Central Bank boosted its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 114.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 166,798 shares of the company’s stock after buying an additional 89,008 shares during the quarter. Saudi Central Bank’s holdings in Coca-Cola Europacific Partners were worth $16,691,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CCEP. AQR Capital Management LLC boosted its position in shares of 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 acquiring an additional 677 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 23.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after acquiring an additional 156 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Coca-Cola Europacific Partners during the 2nd quarter worth about $653,000. Jump Financial LLC raised its position in shares of Coca-Cola Europacific Partners by 18.8% during the 2nd quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock worth $2,380,000 after acquiring an additional 4,059 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Coca-Cola Europacific Partners during the second quarter worth approximately $202,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Trading Down 3.1%

NASDAQ:CCEP opened at $105.76 on Friday. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $113.67. The stock’s 50 day moving average price is $106.97 and its 200 day moving average price is $100.48. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.68 and a current ratio of 0.89.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCEP. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $106.00 price target on shares of Coca-Cola Europacific Partners in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of Coca-Cola Europacific Partners from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, August 27th. Barclays increased their target price on shares of Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company lifted their price target on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.44.

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.