Entropy Technologies LP Invests $671,000 in Coca-Cola Europacific Partners $CCEP

Entropy Technologies LP acquired a new position in Coca-Cola Europacific Partners (NASDAQ:CCEP) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,400 shares of the company’s stock, valued at approximately $671,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Coca-Cola Europacific Partners during the fourth quarter worth about $363,294,000. Lazard Asset Management LLC raised its holdings in shares of Coca-Cola Europacific Partners by 310.4% in the 3rd quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after acquiring an additional 1,762,299 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Coca-Cola Europacific Partners by 32.8% in the 2nd quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock valued at $266,158,000 after acquiring an additional 709,723 shares in the last quarter. Man Group plc boosted its position in shares of Coca-Cola Europacific Partners by 219.8% during the 2nd quarter. Man Group plc now owns 1,001,770 shares of the company’s stock valued at $92,884,000 after acquiring an additional 688,506 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of Coca-Cola Europacific Partners during the 3rd quarter valued at about $29,718,000. Institutional investors own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CCEP shares. Barclays boosted their price objective on Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings lowered shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. UBS Group lifted their target price on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company increased their price target on shares of Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.88.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $111.10 on Thursday. The business has a 50-day moving average price of $100.39 and a two-hundred day moving average price of $97.56. Coca-Cola Europacific Partners has a 12-month low of $84.65 and a 12-month high of $113.67. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23.

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.