Coca-Cola Europacific Partners $CCEP Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC decreased its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 9.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 520,359 shares of the company’s stock after selling 56,417 shares during the period. Cullen Capital Management LLC’s holdings in Coca-Cola Europacific Partners were worth $47,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCEP. Mather Group LLC. bought a new stake in Coca-Cola Europacific Partners during the third quarter worth approximately $31,000. First Command Advisory Services Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 1,800.0% in the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock valued at $33,000 after buying an additional 342 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Coca-Cola Europacific Partners by 61.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $34,000 after acquiring an additional 138 shares during the last quarter. Westerkirk Capital Inc. bought a new stake in shares of Coca-Cola Europacific Partners during the 2nd quarter worth $37,000. Finally, MAI Capital Management grew its holdings in shares of Coca-Cola Europacific Partners by 113.4% in the 2nd quarter. MAI Capital Management now owns 414 shares of the company’s stock worth $38,000 after acquiring an additional 220 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $94.85 on Thursday. The stock has a fifty day moving average price of $90.48 and a 200 day moving average price of $90.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. Coca-Cola Europacific Partners has a 1 year low of $78.00 and a 1 year high of $100.67.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CCEP. Barclays reaffirmed an “overweight” rating and set a $101.00 target price on shares of Coca-Cola Europacific Partners in a report on Friday, January 16th. Bank of America reaffirmed a “neutral” rating and set a $96.00 price objective (down from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. UBS Group decreased their target price on shares of Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Finally, Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, January 9th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.80.

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.