Pictet Asset Management Holding SA Buys 22,154 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Pictet Asset Management Holding SA lifted its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 16.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 153,260 shares of the company's stock after purchasing an additional 22,154 shares during the quarter. Pictet Asset Management Holding SA's holdings in Coca-Cola Europacific Partners were worth $11,791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth $190,999,000. JPMorgan Chase & Co. boosted its position in Coca-Cola Europacific Partners by 43.3% during the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock worth $221,835,000 after acquiring an additional 872,060 shares during the period. Janus Henderson Group PLC acquired a new stake in Coca-Cola Europacific Partners during the 3rd quarter worth about $52,364,000. SG Americas Securities LLC grew its stake in Coca-Cola Europacific Partners by 120.8% during the 4th quarter. SG Americas Securities LLC now owns 433,121 shares of the company's stock valued at $33,268,000 after acquiring an additional 236,917 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at about $14,999,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CCEP shares. Evercore ISI boosted their price objective 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. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. Barclays lifted their price objective on Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. UBS Group upped their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, Morgan Stanley upgraded Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ:CCEP traded down $0.94 during trading on Monday, reaching $82.99. The stock had a trading volume of 4,105,603 shares, compared to its average volume of 1,643,732. The stock has a fifty day simple moving average of $83.87 and a two-hundred day simple moving average of $79.55. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners PLC has a 52 week low of $65.94 and a 52 week high of $91.29. The firm has a market capitalization of $38.25 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 4.89 and a beta of 0.73.

About Coca-Cola Europacific Partners

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.