Picton Mahoney Asset Management Acquires New Holdings in Coca-Cola Europacific Partners $CCEP

Picton Mahoney Asset Management bought a new position in Coca-Cola Europacific Partners (NASDAQ:CCEP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,066 shares of the company’s stock, valued at approximately $730,000.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in shares of Coca-Cola Europacific Partners by 14.7% in the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock worth $1,099,562,000 after buying an additional 1,523,055 shares during the last quarter. Vanguard Group Inc. increased its position in Coca-Cola Europacific Partners by 2.6% during the third quarter. Vanguard Group Inc. now owns 10,960,110 shares of the company’s stock valued at $994,598,000 after acquiring an additional 278,083 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Coca-Cola Europacific Partners by 138.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock valued at $527,595,000 after acquiring an additional 3,392,680 shares during the period. Truist Financial Corp lifted its holdings in Coca-Cola Europacific Partners by 10,480.7% in the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after acquiring an additional 4,711,093 shares during the period. Finally, State Street Corp boosted its position in Coca-Cola Europacific Partners by 5.3% in the second quarter. State Street Corp now owns 4,729,040 shares of the company’s stock worth $438,477,000 after purchasing an additional 239,400 shares during the last quarter. Institutional investors own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCEP. Evercore restated an “outperform” rating and set a $112.00 price target on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Finally, Bank of America reaffirmed a “neutral” rating and set a $96.00 target price (down from $102.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $107.71.

Coca-Cola Europacific Partners Trading Down 1.4%

Shares of CCEP opened at $100.22 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The business has a 50-day simple moving average of $95.58 and a two-hundred day simple moving average of $91.97. Coca-Cola Europacific Partners has a 52 week low of $80.70 and a 52 week high of $110.90.

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.