Public Employees Retirement System of Ohio Makes New Investment in Coca-Cola Europacific Partners $CCEP

Public Employees Retirement System of Ohio acquired a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,665 shares of the company’s stock, valued at approximately $4,670,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Coca-Cola Europacific Partners by 10.5% in the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock valued at $621,000 after purchasing an additional 677 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Coca-Cola Europacific Partners by 23.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after purchasing an additional 156 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter valued at approximately $653,000. Jump Financial LLC boosted its stake in shares of Coca-Cola Europacific Partners by 18.8% during the 2nd quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock valued at $2,380,000 after buying an additional 4,059 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Coca-Cola Europacific Partners during the second quarter worth approximately $202,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $107.78 on Thursday. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $113.67. The firm’s 50-day moving average is $106.70 and its 200-day moving average is $100.38. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.68 and a current ratio of 0.89.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CCEP. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $106.00 price target on shares of Coca-Cola Europacific Partners in a report on Wednesday, August 5th. UBS Group downgraded shares of Coca-Cola Europacific Partners from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $109.00 to $107.00 in a research report on Thursday, August 13th. Barclays upped their target price on shares of Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Finally, Weiss Ratings upgraded Coca-Cola Europacific Partners from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, August 27th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.56.

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.