PNC Financial Services Group Inc. Grows Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

PNC Financial Services Group Inc. grew its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 38.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,948 shares of the company’s stock after buying an additional 5,554 shares during the period. PNC Financial Services Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $1,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CCEP. Moody Lynn & Lieberson LLC raised its stake in Coca-Cola Europacific Partners by 5.0% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 3,149 shares of the company’s stock worth $242,000 after acquiring an additional 150 shares during the period. Blue Trust Inc. raised its position in shares of Coca-Cola Europacific Partners by 16.2% during the 4th quarter. Blue Trust Inc. now owns 1,189 shares of the company’s stock valued at $94,000 after purchasing an additional 166 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in shares of Coca-Cola Europacific Partners by 4.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 3,855 shares of the company’s stock valued at $296,000 after buying an additional 172 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Coca-Cola Europacific Partners by 0.4% in the 3rd quarter. HighTower Advisors LLC now owns 41,187 shares of the company’s stock worth $3,242,000 after buying an additional 177 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Coca-Cola Europacific Partners by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,496 shares of the company’s stock worth $3,740,000 after buying an additional 177 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP opened at $83.40 on Friday. The firm has a market capitalization of $38.44 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 4.89 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. The business has a 50 day simple moving average of $80.81 and a 200-day simple moving average of $79.00. Coca-Cola Europacific Partners PLC has a 1 year low of $65.94 and a 1 year high of $88.39.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CCEP. Evercore ISI upped their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Barclays raised their target price on shares of Coca-Cola Europacific Partners from $92.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.67.

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.