iA Global Asset Management Inc. Boosts Stock Position in Coca-Cola Europacific Partners $CCEP

iA Global Asset Management Inc. raised its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 72.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,034 shares of the company’s stock after purchasing an additional 46,768 shares during the quarter. iA Global Asset Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $10,295,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Coca-Cola Europacific Partners by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company’s stock worth $57,185,000 after buying an additional 13,981 shares during the last quarter. Nordea Investment Management AB boosted its position in Coca-Cola Europacific Partners by 0.8% during the second quarter. Nordea Investment Management AB now owns 1,239,257 shares of the company’s stock worth $113,999,000 after purchasing an additional 10,014 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Coca-Cola Europacific Partners by 52.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company’s stock worth $991,000 after purchasing an additional 3,893 shares in the last quarter. Exane Asset Management boosted its position in Coca-Cola Europacific Partners by 10.6% during the first quarter. Exane Asset Management now owns 225,655 shares of the company’s stock worth $19,618,000 after purchasing an additional 21,535 shares in the last quarter. Finally, Smith Group Asset Management LLC boosted its position in Coca-Cola Europacific Partners by 5.8% during the second quarter. Smith Group Asset Management LLC now owns 82,641 shares of the company’s stock worth $7,662,000 after purchasing an additional 4,510 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CCEP shares. Morgan Stanley downgraded Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday. Barclays lowered their price target on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Five 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.40.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $88.83 on Monday. The business has a 50 day simple moving average of $89.33 and a two-hundred day simple moving average of $91.36. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67. The stock has a market capitalization of $40.95 billion, a P/E ratio of 17.34, a PEG ratio of 2.54 and a beta of 0.77. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65.

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.