Norges Bank Invests $191 Million in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Norges Bank bought a new stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,486,644 shares of the company’s stock, valued at approximately $190,999,000. Norges Bank owned 0.54% of Coca-Cola Europacific Partners at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Coca-Cola Europacific Partners by 85.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock worth $33,000 after purchasing an additional 197 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $52,000. Blue Trust Inc. increased its position in shares of Coca-Cola Europacific Partners by 16.2% in the fourth quarter. Blue Trust Inc. now owns 1,189 shares of the company’s stock valued at $94,000 after buying an additional 166 shares in the last quarter. Finally, Icon Wealth Advisors LLC acquired a new position in shares of Coca-Cola Europacific Partners during the 3rd quarter worth approximately $105,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $86.30 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The stock’s fifty day moving average is $82.76 and its two-hundred day moving average is $79.33. The firm has a market capitalization of $39.78 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 4.89 and a beta of 0.91. Coca-Cola Europacific Partners PLC has a fifty-two week low of $65.94 and a fifty-two week high of $88.39.

Analyst Upgrades and Downgrades

CCEP has been the topic of a number of research analyst reports. Sanford C. Bernstein started coverage on shares of Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 price target on the stock. UBS Group boosted their target price on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Barclays boosted their price objective on Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Evercore ISI raised their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Coca-Cola Europacific Partners Company 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.