KLP Kapitalforvaltning AS Acquires New Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

KLP Kapitalforvaltning AS acquired a new position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 156,300 shares of the company's stock, valued at approximately $12,005,000.

Several other large investors also recently made changes to their positions in the company. Amundi boosted its holdings in Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after acquiring an additional 87,675 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 307.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company's stock worth $191,984,000 after purchasing an additional 1,839,321 shares in the last quarter. Geode Capital Management LLC grew its position in Coca-Cola Europacific Partners by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company's stock valued at $160,138,000 after purchasing an additional 58,247 shares during the period. Janus Henderson Group PLC bought a new stake in Coca-Cola Europacific Partners during the 3rd quarter valued at $52,364,000. Finally, Bank of New York Mellon Corp raised its holdings in Coca-Cola Europacific Partners by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 643,090 shares of the company's stock worth $49,396,000 after buying an additional 3,719 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CCEP shares. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and cut their target price for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. 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. Evercore ISI upped their target price on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.88.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock traded up $0.35 during trading hours on Tuesday, hitting $84.14. 5,198,685 shares of the company were exchanged, compared to its average volume of 1,468,802. Coca-Cola Europacific Partners PLC has a 52-week low of $65.94 and a 52-week high of $88.39. 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 fifty day simple moving average of $82.00 and a 200 day simple moving average of $79.18. The stock has a market capitalization of $38.78 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 4.89 and a beta of 0.91.

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.