30,051 Shares in Coca-Cola Europacific Partners $CCEP Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC acquired a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 30,051 shares of the company’s stock, valued at approximately $3,047,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bayban acquired a new position in Coca-Cola Europacific Partners during the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Coca-Cola Europacific Partners by 407.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after purchasing an additional 285 shares in the last quarter. Whipplewood Advisors LLC raised its position in shares of Coca-Cola Europacific Partners by 1,537.5% during the 1st quarter. Whipplewood Advisors LLC now owns 393 shares of the company’s stock worth $36,000 after purchasing an additional 369 shares during the last quarter. Quarry LP lifted its stake in Coca-Cola Europacific Partners by 59.1% in the 4th quarter. Quarry LP now owns 393 shares of the company’s stock valued at $36,000 after buying an additional 146 shares in the last quarter. Finally, 1248 Management LLC acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter valued at $38,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Down 0.2%

Shares of NASDAQ:CCEP opened at $109.85 on Wednesday. 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 52 week low of $84.65 and a 52 week high of $113.67. The business has a fifty day simple moving average of $105.41 and a 200-day simple moving average of $99.91.

Analyst Ratings Changes

Several research firms have weighed in on CCEP. Barclays raised 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. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $106.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, August 13th. Wells Fargo & Company boosted their target price on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, UBS Group lowered shares of Coca-Cola Europacific Partners from a “buy” rating to a “neutral” rating and reduced their target price for the company from $109.00 to $107.00 in a report on Thursday, August 13th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.56.

Coca-Cola Europacific Partners 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.