Pictet Asset Management Holding SA Raises Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Pictet Asset Management Holding SA lifted its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,260 shares of the company’s stock after purchasing an additional 22,154 shares during the period. Pictet Asset Management Holding SA’s holdings in Coca-Cola Europacific Partners were worth $11,791,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Coca-Cola Europacific Partners during the 4th quarter valued at $190,999,000. JPMorgan Chase & Co. raised its holdings in shares of Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after acquiring an additional 872,060 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Coca-Cola Europacific Partners in the third quarter worth about $52,364,000. SG Americas Securities LLC grew its holdings in Coca-Cola Europacific Partners by 120.8% during the 4th quarter. SG Americas Securities LLC now owns 433,121 shares of the company’s stock worth $33,268,000 after acquiring an additional 236,917 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Coca-Cola Europacific Partners during the 4th quarter valued at about $14,999,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 0.3 %

NASDAQ:CCEP opened at $87.41 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The firm has a fifty day simple moving average of $83.36 and a 200-day simple moving average of $79.47. Coca-Cola Europacific Partners PLC has a 12 month low of $65.94 and a 12 month high of $88.39. The company has a market capitalization of $40.29 billion, a P/E ratio of 17.99, a PEG ratio of 4.89 and a beta of 0.91.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays increased their target price on Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Kepler Capital Markets lowered Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. Morgan Stanley raised Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Finally, Evercore ISI boosted their target price on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.00.

Coca-Cola Europacific Partners Profile

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.