Ninety One UK Ltd Lowers Stock Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Ninety One UK Ltd lowered its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,776,242 shares of the company’s stock after selling 444,296 shares during the period. Ninety One UK Ltd’s holdings in Coca-Cola Europacific Partners were worth $318,766,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Global Retirement Partners LLC boosted its position in Coca-Cola Europacific Partners by 24.1% during the fourth quarter. Global Retirement Partners LLC now owns 799 shares of the company’s stock worth $54,000 after purchasing an additional 155 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in shares of Coca-Cola Europacific Partners by 5.5% during the third quarter. Stratos Wealth Advisors LLC now owns 3,771 shares of the company’s stock valued at $236,000 after acquiring an additional 196 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Coca-Cola Europacific Partners by 0.8% during the first quarter. Commonwealth Equity Services LLC now owns 29,967 shares of the company’s stock valued at $1,773,000 after acquiring an additional 233 shares during the last quarter. Huntington National Bank raised its holdings in shares of Coca-Cola Europacific Partners by 7.6% during the third quarter. Huntington National Bank now owns 3,319 shares of the company’s stock valued at $207,000 after acquiring an additional 235 shares during the last quarter. Finally, Janney Capital Management LLC raised its holdings in shares of Coca-Cola Europacific Partners by 3.7% during the third quarter. Janney Capital Management LLC now owns 6,967 shares of the company’s stock valued at $435,000 after acquiring an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Down 0.1 %

CCEP stock traded down $0.08 during midday trading on Thursday, hitting $66.27. 305,089 shares of the company’s stock were exchanged, compared to its average volume of 1,519,202. The business has a 50-day simple moving average of $69.30 and a two-hundred day simple moving average of $65.22. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72. Coca-Cola Europacific Partners PLC has a 1-year low of $56.28 and a 1-year high of $72.67.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last posted its earnings results on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.85. On average, analysts expect that Coca-Cola Europacific Partners PLC will post 4.18 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on CCEP. Barclays increased their target price on Coca-Cola Europacific Partners from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, March 28th. UBS Group increased their target price on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a “buy” rating in a report on Monday, February 26th. Argus increased their price target on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, StockNews.com raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and a consensus target price of $74.02.

About Coca-Cola Europacific Partners

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.