Coca-Cola Europacific Partners $CCEP Stock: Sumitomo Mitsui Trust Group Inc. Reduces Position

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 17.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,400,009 shares of the company’s stock after selling 306,126 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $142,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Coca-Cola Europacific Partners in the third quarter valued at approximately $20,412,000. ProShare Advisors LLC increased its holdings in shares of Coca-Cola Europacific Partners by 1.4% in the 3rd quarter. ProShare Advisors LLC now owns 420,424 shares of the company’s stock valued at $42,761,000 after acquiring an additional 5,932 shares during the period. Vise Technologies Inc. raised its position in Coca-Cola Europacific Partners by 3.2% in the 3rd quarter. Vise Technologies Inc. now owns 3,005 shares of the company’s stock valued at $306,000 after purchasing an additional 94 shares during the last quarter. Aprio Wealth Management LLC raised its position in Coca-Cola Europacific Partners by 40.4% in the 3rd quarter. Aprio Wealth Management LLC now owns 3,927 shares of the company’s stock valued at $399,000 after purchasing an additional 1,130 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Coca-Cola Europacific Partners by 9.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,660 shares of the company’s stock valued at $1,500,000 after purchasing an additional 1,234 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Up 2.1%

Shares of CCEP stock opened at $115.58 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $106.20 and its two-hundred day moving average is $100.74. Coca-Cola Europacific Partners has a twelve month low of $84.65 and a twelve month high of $116.01.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Coca-Cola Europacific Partners from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. ING Group cut shares of Coca-Cola Europacific Partners to a “hold” rating in a report on Friday, September 18th. Barclays reduced their target price on shares of Coca-Cola Europacific Partners from $119.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Sanford C. Bernstein reiterated a “market perform” rating and set a $106.00 target price on shares of Coca-Cola Europacific Partners in a research note on Wednesday, August 5th. Finally, UBS Group reissued a “neutral” rating and set a $107.00 price target (down from $109.00) on shares of Coca-Cola Europacific Partners in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.11.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners plc (NASDAQ: CCEP) is a consumer beverage company and one of the world’s largest Coca-Cola bottlers. The company manufactures, distributes and sells a broad portfolio of branded beverages, including Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Fanta, Sprite, Schweppes, Fuze Tea, Powerade, Monster Energy and Costa Coffee products, depending on the market.

CCEP serves customers across Europe and the Asia-Pacific region. Its territories include Great Britain, France, Germany, Spain, Portugal, Belgium, the Netherlands, Norway, Sweden and Iceland, as well as Australia, New Zealand, Indonesia, Papua New Guinea and several Pacific island markets.