Allianz Asset Management GmbH Cuts Position in Coca-Cola Europacific Partners $CCEP

Allianz Asset Management GmbH decreased its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 46.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,397 shares of the company’s stock after selling 113,653 shares during the period. Allianz Asset Management GmbH’s holdings in Coca-Cola Europacific Partners were worth $11,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp boosted its stake in shares of Coca-Cola Europacific Partners by 10,480.7% during the 3rd quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock worth $429,994,000 after acquiring an additional 4,711,093 shares in the last quarter. Norges Bank purchased a new position in Coca-Cola Europacific Partners in the 2nd quarter valued at approximately $381,335,000. Massachusetts Financial Services Co. MA raised its holdings in Coca-Cola Europacific Partners by 138.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock worth $527,595,000 after purchasing an additional 3,392,680 shares during the last quarter. Invesco Ltd. boosted its position in Coca-Cola Europacific Partners by 14.7% during the second quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock worth $1,099,562,000 after purchasing an additional 1,523,055 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Coca-Cola Europacific Partners by 8.1% in the second quarter. Vanguard Group Inc. now owns 10,682,027 shares of the company’s stock valued at $984,804,000 after purchasing an additional 798,427 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Up 1.6%

Coca-Cola Europacific Partners stock opened at $97.49 on Monday. Coca-Cola Europacific Partners has a 12-month low of $79.64 and a 12-month high of $100.67. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The firm’s 50-day moving average is $90.69 and its two-hundred day moving average is $90.77.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a report on Thursday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $96.00 price target (down previously from $102.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, January 14th. Barclays reissued an “overweight” rating and set a $101.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Friday, January 16th. Finally, UBS Group reduced their target price on Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and an average price target of $100.80.

Coca-Cola Europacific Partners Company Profile

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.