Picton Mahoney Asset Management Makes New $730,000 Investment in Coca-Cola Europacific Partners $CCEP

Picton Mahoney Asset Management acquired a new position in Coca-Cola Europacific Partners (NASDAQ:CCEP) in the third quarter, HoldingsChannel reports. The institutional investor acquired 8,066 shares of the company’s stock, valued at approximately $730,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Coca-Cola Europacific Partners in the 3rd quarter worth $31,000. First Command Advisory Services Inc. lifted its position in shares of Coca-Cola Europacific Partners by 1,800.0% in the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock valued at $33,000 after acquiring an additional 342 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Coca-Cola Europacific Partners by 61.3% in the second quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $34,000 after acquiring an additional 138 shares in the last quarter. Westerkirk Capital Inc. bought a new position in shares of Coca-Cola Europacific Partners in the second quarter worth about $37,000. Finally, MAI Capital Management boosted its stake in shares of Coca-Cola Europacific Partners by 113.4% in the second quarter. MAI Capital Management now owns 414 shares of the company’s stock worth $38,000 after acquiring an additional 220 shares during the period. 31.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CCEP shares. Barclays lifted their target price on Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. JPMorgan Chase & Co. upped their price target on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. The Goldman Sachs Group lifted their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.71.

Coca-Cola Europacific Partners Trading Down 1.4%

Shares of NASDAQ:CCEP opened at $100.22 on Friday. Coca-Cola Europacific Partners has a 12 month low of $80.70 and a 12 month high of $110.90. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average price of $95.58 and a 200 day moving average price of $91.97.

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.