Citigroup Inc. Raises Stock Holdings in Coca-Cola Europacific Partners $CCEP

Citigroup Inc. boosted its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 18.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 652,954 shares of the company’s stock after buying an additional 103,561 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Coca-Cola Europacific Partners worth $59,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. TIAA Trust National Association raised its stake in shares of Coca-Cola Europacific Partners by 3.2% during the second quarter. TIAA Trust National Association now owns 3,345 shares of the company’s stock valued at $310,000 after acquiring an additional 103 shares during the last quarter. Choreo LLC raised its position in Coca-Cola Europacific Partners by 4.5% during the 2nd quarter. Choreo LLC now owns 2,733 shares of the company’s stock valued at $253,000 after purchasing an additional 118 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Coca-Cola Europacific Partners by 2.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,323 shares of the company’s stock worth $391,000 after buying an additional 123 shares during the period. Legacy Wealth Asset Management LLC grew its position in shares of Coca-Cola Europacific Partners by 0.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 25,773 shares of the company’s stock worth $2,330,000 after buying an additional 131 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Coca-Cola Europacific Partners by 8.7% during the third quarter. Versant Capital Management Inc now owns 1,658 shares of the company’s stock valued at $150,000 after buying an additional 132 shares during the period. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $107.49 on Tuesday. Coca-Cola Europacific Partners has a 1 year low of $80.70 and a 1 year high of $107.90. The company has a 50-day moving average of $93.01 and a 200 day moving average of $91.07. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23.

Wall Street Analyst Weigh In

CCEP has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday. Barclays raised their target price on shares of Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $114.00 price target on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. Finally, 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 report on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.71.

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.