Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Bought by Fmr LLC

Fmr LLC raised its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,234,642 shares of the company’s stock after acquiring an additional 229,679 shares during the period. Fmr LLC’s holdings in Coca-Cola Europacific Partners were worth $555,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CCEP. Federated Hermes Inc. increased its holdings in Coca-Cola Europacific Partners by 27.0% in the 4th quarter. Federated Hermes Inc. now owns 44,070 shares of the company’s stock valued at $3,385,000 after purchasing an additional 9,364 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Coca-Cola Europacific Partners during the fourth quarter worth $1,504,000. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at $18,242,000. Russell Investments Group Ltd. raised its holdings in shares of Coca-Cola Europacific Partners by 22.3% in the 4th quarter. Russell Investments Group Ltd. now owns 163,366 shares of the company’s stock valued at $12,538,000 after buying an additional 29,840 shares during the period. Finally, Aviva PLC lifted its stake in Coca-Cola Europacific Partners by 4.0% during the 4th quarter. Aviva PLC now owns 276,790 shares of the company’s stock worth $21,260,000 after acquiring an additional 10,720 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP opened at $81.84 on Wednesday. The firm has a market capitalization of $37.72 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 4.89 and a beta of 0.73. The firm’s fifty day simple moving average is $84.02 and its 200-day simple moving average is $79.57. Coca-Cola Europacific Partners PLC has a twelve month low of $65.94 and a twelve month high of $91.29. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11.

Wall Street Analyst Weigh In

Several research firms have weighed in on CCEP. Barclays lifted their target price on Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Evercore ISI lifted their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have assigned 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.00.

About Coca-Cola Europacific Partners

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.