Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Bought by Korea Investment CORP

Korea Investment CORP grew its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,714 shares of the company’s stock after purchasing an additional 5,600 shares during the period. Korea Investment CORP’s holdings in Coca-Cola Europacific Partners were worth $8,638,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CCEP. Amundi lifted its stake in shares of Coca-Cola Europacific Partners by 2.9% during the fourth quarter. Amundi now owns 3,078,851 shares of the company’s stock worth $233,716,000 after purchasing an additional 87,675 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Coca-Cola Europacific Partners by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock valued at $160,138,000 after buying an additional 58,247 shares during the period. Janus Henderson Group PLC acquired a new position in Coca-Cola Europacific Partners during the 3rd quarter worth approximately $52,364,000. Bank of New York Mellon Corp boosted its holdings in Coca-Cola Europacific Partners by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 643,090 shares of the company’s stock worth $49,396,000 after acquiring an additional 3,719 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Coca-Cola Europacific Partners by 5.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 550,630 shares of the company’s stock valued at $42,294,000 after purchasing an additional 28,867 shares during the period. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP opened at $87.03 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The firm has a market cap of $40.12 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 4.89 and a beta of 0.91. Coca-Cola Europacific Partners PLC has a 52 week low of $65.94 and a 52 week high of $88.39. The stock has a 50 day moving average of $82.96 and a 200-day moving average of $79.37.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 target price for the company. Evercore ISI raised their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Kepler Capital Markets cut Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research note on Tuesday, February 25th. UBS Group raised their price objective on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley raised Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.