Coca-Cola Europacific Partners $CCEP Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,855 shares of the company’s stock after selling 6,828 shares during the period. Rhumbline Advisers’ holdings in Coca-Cola Europacific Partners were worth $6,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CCEP. AQR Capital Management LLC boosted its position in shares of Coca-Cola Europacific Partners by 10.5% in the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after buying an additional 677 shares during the period. Geneos Wealth Management Inc. lifted its position in Coca-Cola Europacific Partners by 23.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock worth $70,000 after acquiring an additional 156 shares in the last quarter. CWM LLC boosted its holdings in Coca-Cola Europacific Partners by 13.3% in the 2nd quarter. CWM LLC now owns 1,136 shares of the company’s stock worth $105,000 after acquiring an additional 133 shares during the period. Ethic Inc. raised its stake in shares of Coca-Cola Europacific Partners by 6.5% during the second quarter. Ethic Inc. now owns 19,821 shares of the company’s stock valued at $1,806,000 after purchasing an additional 1,218 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in shares of Coca-Cola Europacific Partners by 10.7% during the second quarter. Asset Management One Co. Ltd. now owns 86,333 shares of the company’s stock worth $8,005,000 after purchasing an additional 8,375 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. UBS Group raised their price objective on Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $114.00 target price on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Evercore restated an “outperform” rating and issued a $112.00 price target on shares of Coca-Cola Europacific Partners in a research note on Wednesday. Finally, Barclays upped their price target on shares of Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.71.

Coca-Cola Europacific Partners Trading Up 1.0%

Shares of CCEP opened at $105.70 on Monday. Coca-Cola Europacific Partners has a 52 week low of $80.70 and a 52 week high of $106.04. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. The stock has a 50 day moving average of $92.70 and a 200-day moving average of $90.97.

Coca-Cola Europacific Partners 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.