Rafferty Asset Management LLC Has $12.31 Million Stock Position in Coca-Cola Europacific Partners $CCEP

Rafferty Asset Management LLC raised its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,121 shares of the company’s stock after acquiring an additional 8,881 shares during the period. Rafferty Asset Management LLC’s holdings in Coca-Cola Europacific Partners were worth $12,307,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. raised its position in Coca-Cola Europacific Partners by 14.7% in the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock valued at $1,099,562,000 after purchasing an additional 1,523,055 shares during the last quarter. Vanguard Group Inc. grew its holdings in Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,960,110 shares of the company’s stock worth $994,598,000 after acquiring an additional 278,083 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Coca-Cola Europacific Partners by 138.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock valued at $527,595,000 after purchasing an additional 3,392,680 shares during the last quarter. Truist Financial Corp increased its stake in shares of Coca-Cola Europacific Partners by 10,480.7% in the 3rd quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after acquiring an additional 4,711,093 shares during the last quarter. Finally, State Street Corp raised its holdings in Coca-Cola Europacific Partners by 5.3% in the second quarter. State Street Corp now owns 4,729,040 shares of the company’s stock worth $438,477,000 after purchasing an additional 239,400 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCEP. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. The Goldman Sachs Group increased their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $114.00 price target on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.71.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $110.43 on Monday. The firm’s 50 day simple moving average is $94.34 and its 200 day simple moving average is $91.50. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a 1 year low of $80.70 and a 1 year high of $110.90.

About Coca-Cola Europacific Partners

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.