MQS Management LLC Purchases New Shares in Coca-Cola Europacific Partners $CCEP

MQS Management LLC acquired a new position in Coca-Cola Europacific Partners (NASDAQ:CCEP) in the third quarter, Holdings Channel reports. The fund acquired 5,369 shares of the company’s stock, valued at approximately $485,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wesbanco Bank Inc. bought a new position in shares of Coca-Cola Europacific Partners in the third quarter valued at approximately $221,000. Oppenheimer Asset Management Inc. lifted its holdings in Coca-Cola Europacific Partners by 0.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 73,077 shares of the company’s stock worth $6,607,000 after acquiring an additional 310 shares during the period. Smartleaf Asset Management LLC boosted its position in Coca-Cola Europacific Partners by 11.7% in the third quarter. Smartleaf Asset Management LLC now owns 2,587 shares of the company’s stock worth $232,000 after purchasing an additional 270 shares during the last quarter. Bessemer Group Inc. boosted its position in Coca-Cola Europacific Partners by 12,873.0% in the third quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock worth $229,428,000 after purchasing an additional 2,518,085 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Coca-Cola Europacific Partners by 1.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 396,600 shares of the company’s stock valued at $35,857,000 after purchasing an additional 5,228 shares during the period. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP opened at $97.69 on Thursday. Coca-Cola Europacific Partners has a 1 year low of $80.70 and a 1 year high of $100.67. The stock’s fifty day moving average price is $90.97 and its two-hundred day moving average price is $90.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CCEP. Bank of America reissued a “neutral” rating and issued a $96.00 price target (down from $102.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, January 14th. Barclays reiterated an “overweight” rating and issued a $101.00 target price on shares of Coca-Cola Europacific Partners in a research note on Friday, January 16th. UBS Group decreased their price target on shares of Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Finally, Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $100.80.

About Coca-Cola Europacific Partners

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.