Legal & General Group Plc Lowers Stock Holdings in Coca-Cola Europacific Partners $CCEP

Legal & General Group Plc lessened its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,514,931 shares of the company’s stock after selling 105,268 shares during the quarter. Legal & General Group Plc’s holdings in Coca-Cola Europacific Partners were worth $318,354,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CCEP. Invesco Ltd. boosted its holdings in Coca-Cola Europacific Partners by 14.7% during the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock valued at $1,099,562,000 after acquiring an additional 1,523,055 shares during the period. Vanguard Group Inc. increased its stake in Coca-Cola Europacific Partners by 2.6% during the third quarter. Vanguard Group Inc. now owns 10,960,110 shares of the company’s stock worth $994,598,000 after purchasing an additional 278,083 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of 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 in the last quarter. Truist Financial Corp lifted its position in shares of Coca-Cola Europacific Partners by 10,480.7% during the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock worth $429,994,000 after purchasing an additional 4,711,093 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Coca-Cola Europacific Partners by 5.3% in the second quarter. State Street Corp now owns 4,729,040 shares of the company’s stock valued at $438,477,000 after purchasing an additional 239,400 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CCEP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. Bank of America restated a “neutral” rating and issued a $96.00 price target (down from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. UBS Group upped their price objective on Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $107.71.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ:CCEP opened at $101.13 on Thursday. Coca-Cola Europacific Partners has a fifty-two week low of $81.00 and a fifty-two week high of $110.90. The firm’s 50 day moving average price is $96.19 and its 200 day moving average price is $92.18. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23.

About Coca-Cola Europacific Partners

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.