Envestnet Asset Management Inc. Buys 5,228 Shares of Coca-Cola Europacific Partners $CCEP

Envestnet Asset Management Inc. raised its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 396,600 shares of the company’s stock after purchasing an additional 5,228 shares during the period. Envestnet Asset Management Inc. owned 0.09% of Coca-Cola Europacific Partners worth $35,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Mather Group LLC. purchased a new position in shares of Coca-Cola Europacific Partners in the 3rd quarter worth approximately $31,000. First Command Advisory Services Inc. increased its position in shares of Coca-Cola Europacific Partners by 1,800.0% during the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock worth $33,000 after purchasing an additional 342 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Coca-Cola Europacific Partners by 61.3% during the second quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock worth $34,000 after purchasing an additional 138 shares in the last quarter. Westerkirk Capital Inc. purchased a new stake in shares of Coca-Cola Europacific Partners during the 2nd quarter valued at $37,000. Finally, MAI Capital Management boosted its position in shares of Coca-Cola Europacific Partners by 113.4% in the 2nd quarter. MAI Capital Management now owns 414 shares of the company’s stock worth $38,000 after purchasing an additional 220 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Up 1.6%

Coca-Cola Europacific Partners stock opened at $97.69 on Thursday. The business’s 50-day moving average price is $90.97 and its 200 day moving average price is $90.76. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a 52 week low of $80.70 and a 52 week high of $100.67.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $114.00 price target on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $96.00 price objective (down from $102.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, January 14th. Barclays reissued an “overweight” rating and set a $101.00 target price on shares of Coca-Cola Europacific Partners in a research report on Friday, January 16th. UBS Group decreased their price target on shares of Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.80.

About Coca-Cola Europacific Partners

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.