MW Advisory LLC Buys Shares of 6,895 Coca-Cola Europacific Partners $CCEP

MW Advisory LLC bought a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,895 shares of the company’s stock, valued at approximately $690,000.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Coca-Cola Europacific Partners during the 4th quarter worth $363,294,000. Lazard Asset Management LLC raised its position in Coca-Cola Europacific Partners by 310.4% in the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after purchasing an additional 1,762,299 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at about $97,058,000. Bank of America Corp DE boosted its stake in shares of Coca-Cola Europacific Partners by 32.8% during the second quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock valued at $266,158,000 after purchasing an additional 709,723 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of Coca-Cola Europacific Partners by 219.8% during the second quarter. Man Group plc now owns 1,001,770 shares of the company’s stock worth $92,884,000 after purchasing an additional 688,506 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Down 3.1%

Shares of CCEP stock opened at $105.76 on Friday. The business’s 50 day simple moving average is $106.97 and its 200 day simple moving average is $100.48. Coca-Cola Europacific Partners has a one year low of $84.65 and a one year high of $113.67. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20.

Wall Street Analyst Weigh In

CCEP has been the subject of a number of research reports. Sanford C. Bernstein reiterated a “market perform” rating and issued a $106.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, August 5th. Wells Fargo & Company boosted their target price on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $92.00 price target on shares of Coca-Cola Europacific Partners in a research note on Friday. Weiss Ratings upgraded shares of Coca-Cola Europacific Partners from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $108.44.

Coca-Cola Europacific Partners Company Profile

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.