AlphaCrest Capital Management LLC, a hedge fund company, has increased its holdings in Coca-Cola Europacific Partners PLC (CCEP:NSD) by 131.8% during the third quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now owns 47,535 shares of the company, worth $2,026,000, after acquiring an additional 27,031 shares in the quarter.
Other institutional investors and hedge funds have also made moves in the company recently. Veriti Management LLC increased its stake by 13.2% in the third quarter, while Allworth Financial LP lifted its position by 459.4%. AXA S.A. boosted its holdings by 166.5% in the same quarter. Hedge funds and institutional investors now hold 28.63% of Coca-Cola stock.
Coca-Cola Stock Price Analysis:
Coca-Cola stock opened at $55.87 on Tuesday. The firm has a one-year low of $41.80 and a one-year high of $57.63. The stock has a debt-to-equity ratio of 1.42, a quick ratio of 0.71, and a current ratio of 0.89. The fifty-day moving average is $55.65, and the two-hundred-day moving average is $51.49.
Coca-Cola Stock-Analyst Ratings:
CCEP has been the subject of various analyst reports recently. Barclays lowered the price objective for Col-Cola stock shares from $69.00 to $67.00 and assigned an “overweight” rating in a research report on February 21st.
Deutsche Bank Aktiengesellschaft raised the price objective from $63.00 to $66.00 in a research report on January 5th.
JPMorgan Chase & Co. raised the price target to €66.50 ($70.74) and assigned an “overweight” rating on December 1st.
As per Stock Target Advisor, the consensus rating for CCEP is “Strong Buy,” with an average price target of $65.25.
Company Profile:
Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. The company 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.
It provides its products under the Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Fanta, Sprite, Monster Energy, Coca-Cola Energy, Relentless, nalu, URGE, BURN, Kuli, REIGN, POWERADE, Appletiser, Schweppes, FINLEY, mezzo mix, Royal Bliss, Lift, Vio SCHORLE, Coca-Cola Signature Mixers, NORDIC MIST, smartwater, Chaudfontaine, AQUARIUS, VILAS del Turbon, BONAQUA, Apollinaris, Krystal, Honest, Costa Coffee, Fuzetea, CHAQWA, NESTEA, Capri-Sun, Oasis, Minute Maid, MER, and Tropico brands.
In addition, the company engages in the bottling and other operations. As of March 15, 2022, it served approximately 600 million consumers. The company was formerly known as Coca-Cola European Partners plc and changed its name to Coca-Cola Europacific Partners PLC in May 2021. Coca-Cola Europacific Partners PLC was founded in 1986 and is based in Uxbridge, the United Kingdom.
