Trexquant Investment LP Buys New Position in Coca-Cola Europacific Partners $CCEP

Trexquant Investment LP bought a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) in the first quarter, HoldingsChannel reports. The fund bought 169,252 shares of the company’s stock, valued at approximately $14,730,000.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Coca-Cola Europacific Partners by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company’s stock valued at $57,185,000 after purchasing an additional 13,981 shares during the period. Siemens Fonds Invest GmbH boosted its position in shares of Coca-Cola Europacific Partners by 79.1% in the 4th quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company’s stock valued at $1,246,000 after purchasing an additional 7,165 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 52.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company’s stock valued at $991,000 after purchasing an additional 3,893 shares during the period. Cetera Investment Advisers boosted its position in shares of Coca-Cola Europacific Partners by 12.3% in the 4th quarter. Cetera Investment Advisers now owns 31,339 shares of the company’s stock valued at $2,407,000 after purchasing an additional 3,435 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Coca-Cola Europacific Partners by 7.3% in the 4th quarter. Deutsche Bank AG now owns 1,689,202 shares of the company’s stock valued at $129,748,000 after purchasing an additional 114,754 shares during the period. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Up 0.3%

CCEP opened at $88.83 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. The business has a 50 day simple moving average of $94.35 and a 200-day simple moving average of $89.91. The stock has a market capitalization of $40.95 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.57 and a beta of 0.75. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCEP. Morgan Stanley cut Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Barclays decreased their price objective on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. UBS Group increased their price objective on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen cut Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and an average target price of $90.43.

Coca-Cola Europacific Partners Company 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.