Public Employees Retirement System of Ohio Makes New Investment in Coca-Cola Europacific Partners $CCEP

Public Employees Retirement System of Ohio purchased a new stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 46,665 shares of the company’s stock, valued at approximately $4,670,000.

Several other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Coca-Cola Europacific Partners by 10.5% in the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after acquiring an additional 677 shares during the period. Geneos Wealth Management Inc. boosted its stake in Coca-Cola Europacific Partners by 23.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after purchasing an additional 156 shares during the period. Marshall Wace LLP bought a new position in Coca-Cola Europacific Partners in the 2nd quarter worth about $653,000. Jump Financial LLC grew its position in Coca-Cola Europacific Partners by 18.8% in the 2nd quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock worth $2,380,000 after purchasing an additional 4,059 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Coca-Cola Europacific Partners in the second quarter valued at approximately $202,000. Institutional investors own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CCEP shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Weiss Ratings upgraded Coca-Cola Europacific Partners from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, August 27th. UBS Group downgraded Coca-Cola Europacific Partners from a “buy” rating to a “neutral” rating and cut their target price for the company from $109.00 to $107.00 in a research note on Thursday, August 13th. Barclays boosted their price target on Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company increased their price target on Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.56.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $107.78 on Thursday. The company has a 50 day moving average of $106.70 and a 200-day moving average of $100.38. The company has a quick ratio of 0.68, a current ratio of 0.89 and a debt-to-equity ratio of 1.20. Coca-Cola Europacific Partners has a twelve month low of $84.65 and a twelve month high of $113.67.

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.