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

Allianz Asset Management GmbH cut its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 46.8% during the 3rd quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AGF Management Ltd. raised its stake in Coca-Cola Europacific Partners by 2.5% during the third quarter. AGF Management Ltd. now owns 948,896 shares of the company’s stock worth $85,790,000 after purchasing an additional 23,170 shares during the period. Jones Financial Companies Lllp boosted its holdings in Coca-Cola Europacific Partners by 9.8% in the third quarter. Jones Financial Companies Lllp now owns 2,431 shares of the company’s stock valued at $218,000 after acquiring an additional 216 shares during the last quarter. State of Wyoming grew its position in Coca-Cola Europacific Partners by 31.5% during the third quarter. State of Wyoming now owns 2,084 shares of the company’s stock valued at $188,000 after acquiring an additional 499 shares during the period. Thrivent Financial for Lutherans increased its stake in Coca-Cola Europacific Partners by 106.4% during the third quarter. Thrivent Financial for Lutherans now owns 6,416 shares of the company’s stock worth $580,000 after acquiring an additional 3,308 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in Coca-Cola Europacific Partners by 4.4% during the third quarter. Independent Advisor Alliance now owns 13,428 shares of the company’s stock worth $1,214,000 after acquiring an additional 569 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

CCEP stock opened at $97.49 on Monday. The stock’s 50 day moving average is $90.69 and its two-hundred day moving average is $90.77. Coca-Cola Europacific Partners has a 52-week low of $79.64 and a 52-week high of $100.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CCEP shares. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Barclays reiterated 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. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Finally, Bank of America reaffirmed a “neutral” rating and set a $96.00 price target (down from $102.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has an average 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.