Cresset Asset Management LLC Lowers Holdings in Coca-Cola Europacific Partners $CCEP

Cresset Asset Management LLC decreased its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 19.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,184 shares of the company’s stock after selling 1,028 shares during the quarter. Cresset Asset Management LLC’s holdings in Coca-Cola Europacific Partners were worth $364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company’s stock valued at $25,000 after buying an additional 147 shares during the period. NBC Securities Inc. acquired a new position in shares of Coca-Cola Europacific Partners in the 1st quarter valued at about $28,000. Optiver Holding B.V. acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at about $29,000. Cullen Frost Bankers Inc. lifted its stake in shares of Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company’s stock valued at $32,000 after purchasing an additional 245 shares in the last quarter. Finally, HM Payson & Co. acquired a new position in shares of Coca-Cola Europacific Partners in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CCEP shares. Barclays reduced their price objective on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Wall Street Zen lowered Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. UBS Group lifted their price objective on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley lowered Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.43.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $90.34 on Monday. The stock’s 50 day moving average price is $94.63 and its 200 day moving average price is $89.80. The firm has a market capitalization of $41.64 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.62 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. Coca-Cola Europacific Partners has a one year low of $73.40 and a one year high of $100.67.

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.