Cumberland Partners Ltd Buys 22,780 Shares of Coca-Cola Europacific Partners $CCEP

Cumberland Partners Ltd boosted its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 90.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 47,920 shares of the company’s stock after buying an additional 22,780 shares during the quarter. Cumberland Partners Ltd’s holdings in Coca-Cola Europacific Partners were worth $4,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CCEP. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 13.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,094 shares of the company’s stock valued at $11,129,000 after acquiring an additional 14,670 shares in the last quarter. First Trust Advisors LP lifted its stake in Coca-Cola Europacific Partners by 148.4% during the second quarter. First Trust Advisors LP now owns 1,005,817 shares of the company’s stock worth $93,259,000 after purchasing an additional 600,962 shares during the period. iA Global Asset Management Inc. boosted its holdings in Coca-Cola Europacific Partners by 11.8% during the third quarter. iA Global Asset Management Inc. now owns 124,169 shares of the company’s stock valued at $11,226,000 after purchasing an additional 13,135 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Coca-Cola Europacific Partners by 14.1% in the 2nd quarter. Profund Advisors LLC now owns 34,161 shares of the company’s stock valued at $3,167,000 after purchasing an additional 4,226 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 2.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,189,955 shares of the company’s stock worth $197,994,000 after buying an additional 47,240 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $104.67 on Thursday. Coca-Cola Europacific Partners has a 12-month low of $80.70 and a 12-month high of $105.44. The firm’s 50-day simple moving average is $92.09 and its 200 day simple moving average is $90.88. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCEP. Bank of America reaffirmed a “neutral” rating and issued a $96.00 price target (down previously from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday, January 9th. Finally, UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.71.

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.