Princeton Global Asset Management LLC Has $8.50 Million Stake in Coca-Cola Europacific Partners $CCEP

Princeton Global Asset Management LLC decreased its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,635 shares of the company’s stock after selling 1,802 shares during the quarter. Coca-Cola Europacific Partners makes up about 1.5% of Princeton Global Asset Management LLC’s holdings, making the stock its 14th biggest position. Princeton Global Asset Management LLC’s holdings in Coca-Cola Europacific Partners were worth $8,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Invesco Ltd. raised its holdings in shares of Coca-Cola Europacific Partners by 2.1% during the 1st quarter. Invesco Ltd. now owns 10,335,894 shares of the company’s stock valued at $899,533,000 after purchasing an additional 215,966 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 462.7% during the 1st quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company’s stock valued at $862,167,000 after purchasing an additional 8,126,996 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 24.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company’s stock valued at $540,050,000 after purchasing an additional 1,214,493 shares in the last quarter. Amundi raised its holdings in shares of Coca-Cola Europacific Partners by 1.6% during the 1st quarter. Amundi now owns 3,128,598 shares of the company’s stock valued at $281,009,000 after purchasing an additional 49,747 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Coca-Cola Europacific Partners by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,030,119 shares of the company’s stock valued at $263,711,000 after purchasing an additional 142,019 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Weiss Ratings reissued a “buy (b+)” rating on shares of Coca-Cola Europacific Partners in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Morgan Stanley cut shares of Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $92.40.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock opened at $90.54 on Monday. The firm’s 50 day moving average is $89.48 and its 200-day moving average is $90.93. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. The firm has a market capitalization of $41.73 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.59 and a beta of 0.76. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

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.