Allianz SE Takes Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Allianz SE bought a new position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,000 shares of the company's stock, valued at approximately $381,000.

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

Coca-Cola Europacific Partners Trading Down 6.6 %

Shares of CCEP traded down $5.89 during midday trading on Friday, hitting $83.93. 3,856,729 shares of the stock were exchanged, compared to its average volume of 1,633,121. Coca-Cola Europacific Partners PLC has a 52-week low of $65.94 and a 52-week high of $92.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The stock has a fifty day simple moving average of $83.77 and a 200 day simple moving average of $79.55. The firm has a market cap of $38.69 billion, a P/E ratio of 17.27, a P/E/G ratio of 4.89 and a beta of 0.73.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several analyst reports. Morgan Stanley upgraded Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. Barclays lifted their target price on shares of Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. UBS Group increased their price target on shares of 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. 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. Finally, Evercore ISI increased their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has a consensus rating of "Moderate Buy" and an average target price of $87.00.

Coca-Cola Europacific Partners Company 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.