Norges Bank Takes Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Norges Bank acquired a new position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,486,644 shares of the company’s stock, valued at approximately $190,999,000.

Several other institutional investors have also recently added to or reduced their stakes in CCEP. NEOS Investment Management LLC grew its stake in shares of Coca-Cola Europacific Partners by 19.1% in the fourth quarter. NEOS Investment Management LLC now owns 30,314 shares of the company’s stock valued at $2,328,000 after buying an additional 4,855 shares in the last quarter. JPMorgan Chase & Co. grew its position in Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after acquiring an additional 872,060 shares in the last quarter. Elo Mutual Pension Insurance Co purchased a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $2,438,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Coca-Cola Europacific Partners by 8.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 180,588 shares of the company’s stock worth $13,752,000 after purchasing an additional 14,284 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Coca-Cola Europacific Partners by 5.3% in the fourth quarter. Korea Investment CORP now owns 111,714 shares of the company’s stock valued at $8,638,000 after purchasing an additional 5,600 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several recent research reports. Barclays upped their target price on shares of Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein started coverage on Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 price objective on the stock. Evercore ISI lifted their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. UBS Group increased their price target on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.00.

Coca-Cola Europacific Partners Trading Up 0.0 %

NASDAQ:CCEP opened at $86.30 on Monday. The stock has a 50-day simple moving average of $82.76 and a 200-day simple moving average of $79.33. The stock has a market cap of $39.78 billion, a P/E ratio of 17.76, a P/E/G ratio of 4.89 and a beta of 0.91. Coca-Cola Europacific Partners PLC has a 1 year low of $65.94 and a 1 year high of $88.39. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81.

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.