SCS Capital Management LLC Makes New $3.16 Million Investment in Coca-Cola Europacific Partners $CCEP

SCS Capital Management LLC bought a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) during the first quarter, HoldingsChannel.com reports. The firm bought 36,300 shares of the company’s stock, valued at approximately $3,159,000.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter valued at approximately $28,000. Cullen Frost Bankers Inc. increased its position in shares of Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company’s stock valued at $32,000 after purchasing an additional 245 shares during the last quarter. HM Payson & Co. purchased a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter valued at approximately $33,000. Finally, Motco increased its position in shares of Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on CCEP shares. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Barclays dropped their target price on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.40.

Coca-Cola Europacific Partners Stock Up 1.5%

CCEP stock opened at $91.45 on Wednesday. Coca-Cola Europacific Partners has a one year low of $73.40 and a one year high of $100.67. The stock has a market capitalization of $42.15 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The company has a fifty day moving average of $93.78 and a 200-day moving average of $90.17.

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.