Norges Bank Takes Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Norges Bank acquired a new position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,486,644 shares of the company's stock, valued at approximately $190,999,000. Norges Bank owned about 0.54% of Coca-Cola Europacific Partners as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCEP. Cerity Partners LLC raised its stake in shares of Coca-Cola Europacific Partners by 33.7% in the third quarter. Cerity Partners LLC now owns 18,822 shares of the company's stock worth $1,482,000 after purchasing an additional 4,743 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Coca-Cola Europacific Partners by 23.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 196,445 shares of the company's stock valued at $15,470,000 after acquiring an additional 37,706 shares during the period. Fiduciary Trust Co boosted its holdings in shares of Coca-Cola Europacific Partners by 7.6% during the 3rd quarter. Fiduciary Trust Co now owns 5,345 shares of the company's stock valued at $421,000 after acquiring an additional 377 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Coca-Cola Europacific Partners by 307.3% in the third 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 acquiring an additional 1,839,321 shares during the period. Finally, PEAK6 Investments LLC purchased a new position in shares of Coca-Cola Europacific Partners during the third quarter valued at approximately $234,000. 31.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCEP has been the topic of several research reports. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. Morgan Stanley upgraded Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Barclays raised their target price on Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Evercore ISI upped their price target on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company 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 given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.00.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock traded down $5.89 during midday trading on Friday, hitting $83.93. The stock had a trading volume of 3,856,729 shares, 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 market capitalization of $38.69 billion, a PE ratio of 17.27, a P/E/G ratio of 4.89 and a beta of 0.73. The firm's fifty day moving average is $83.77 and its two-hundred day moving average is $79.55. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11.

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.