Allianz SE Purchases Shares of 5,000 Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Allianz SE acquired a new position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,000 shares of the company’s stock, valued at approximately $381,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCEP. Pictet Asset Management Holding SA grew its position in shares of Coca-Cola Europacific Partners by 16.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 153,260 shares of the company’s stock worth $11,791,000 after buying an additional 22,154 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth $446,000. Norges Bank bought a new stake in Coca-Cola Europacific Partners during the 4th quarter valued at about $190,999,000. NEOS Investment Management LLC raised its holdings in Coca-Cola Europacific Partners by 19.1% in the 4th quarter. NEOS Investment Management LLC now owns 30,314 shares of the company’s stock worth $2,328,000 after acquiring an additional 4,855 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock worth $221,835,000 after purchasing an additional 872,060 shares during the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $86.30 on Monday. Coca-Cola Europacific Partners PLC has a 1-year low of $65.94 and a 1-year high of $88.39. The company’s 50-day moving average is $82.76 and its 200 day moving average is $79.33. The firm has a market capitalization of $39.78 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 4.89 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63.

Analyst Upgrades and Downgrades

CCEP has been the topic of several research analyst reports. Evercore ISI increased their price target on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. UBS Group increased their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Sanford C. Bernstein assumed coverage on shares of Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 price target on the stock. Finally, Barclays lifted their price objective on Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Coca-Cola Europacific Partners Profile

Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. It offers flavours, mixers, and energy drinks; soft drinks, waters, enhanced water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.