DNB Asset Management AS Has $97.95 Million Stock Holdings in Coca-Cola Europacific Partners $CCEP

DNB Asset Management AS trimmed its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 19.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,083,398 shares of the company’s stock after selling 265,367 shares during the quarter. DNB Asset Management AS owned 0.24% of Coca-Cola Europacific Partners worth $97,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Coca-Cola Europacific Partners by 14.7% in the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock valued at $1,099,562,000 after buying an additional 1,523,055 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,960,110 shares of the company’s stock valued at $994,598,000 after purchasing an additional 278,083 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Coca-Cola Europacific Partners by 138.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock worth $527,595,000 after purchasing an additional 3,392,680 shares during the last quarter. Truist Financial Corp increased its position in shares of Coca-Cola Europacific Partners by 10,480.7% during the 3rd quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock worth $429,994,000 after purchasing an additional 4,711,093 shares in the last quarter. Finally, State Street Corp increased its position in shares of Coca-Cola Europacific Partners by 5.3% during the 2nd quarter. State Street Corp now owns 4,729,040 shares of the company’s stock worth $438,477,000 after purchasing an additional 239,400 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCEP has been the topic of several research analyst reports. UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Bank of America reiterated a “neutral” rating and issued a $96.00 price objective (down from $102.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, January 14th. Evercore restated an “outperform” rating and set a $112.00 target price on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.71.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $108.35 on Friday. Coca-Cola Europacific Partners has a 52-week low of $80.70 and a 52-week high of $109.36. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The firm has a 50 day moving average price of $93.97 and a 200 day moving average price of $91.40.

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.