Sumitomo Mitsui Trust Holdings Inc. Trims Stock Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 555,517 shares of the company’s stock after selling 13,457 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Coca-Cola Europacific Partners were worth $37,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CCEP. Norges Bank purchased a new position in Coca-Cola Europacific Partners in the fourth quarter worth $66,427,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Coca-Cola Europacific Partners by 196.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,762,591 shares of the company’s stock worth $97,507,000 after purchasing an additional 1,168,323 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Coca-Cola Europacific Partners by 94.7% in the second quarter. Nuveen Asset Management LLC now owns 1,839,421 shares of the company’s stock worth $118,514,000 after purchasing an additional 894,560 shares during the last quarter. BlackRock Inc. raised its stake in shares of Coca-Cola Europacific Partners by 5.0% during the first quarter. BlackRock Inc. now owns 14,447,992 shares of the company’s stock valued at $702,316,000 after acquiring an additional 685,745 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Coca-Cola Europacific Partners by 1,183.0% during the first quarter. Balyasny Asset Management L.P. now owns 706,715 shares of the company’s stock valued at $41,830,000 after acquiring an additional 651,632 shares during the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CCEP. UBS Group increased their price target on shares of Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Barclays upped their price objective on shares of Coca-Cola Europacific Partners from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. BNP Paribas upgraded shares of Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 price target on the stock in a report on Friday, January 12th. Argus increased their price target on shares of 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 upgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.02.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock opened at $67.58 on Friday. Coca-Cola Europacific Partners PLC has a one year low of $56.28 and a one year high of $72.67. The company’s fifty day moving average price is $69.30 and its 200-day moving average price is $65.31. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.72 and a current ratio of 0.91.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last announced its quarterly earnings data on Friday, February 23rd. The company reported $1.85 EPS for the quarter, meeting the consensus estimate of $1.85. As a group, equities research analysts anticipate that Coca-Cola Europacific Partners PLC will post 4.18 EPS for the current year.

Coca-Cola Europacific Partners Profile

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.