Coca-Cola Europacific Partners $CCEP Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 3.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 492,244 shares of the company’s stock after selling 19,031 shares during the quarter. William Blair Investment Management LLC owned about 0.11% of Coca-Cola Europacific Partners worth $44,504,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in Coca-Cola Europacific Partners during the third quarter worth approximately $31,000. First Command Advisory Services Inc. lifted its position in Coca-Cola Europacific Partners by 1,800.0% in the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock valued at $33,000 after acquiring an additional 342 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Coca-Cola Europacific Partners by 61.3% in the second quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $34,000 after acquiring an additional 138 shares in the last quarter. Westerkirk Capital Inc. purchased a new position in shares of Coca-Cola Europacific Partners during the second quarter worth about $37,000. Finally, MAI Capital Management lifted its holdings in shares of Coca-Cola Europacific Partners by 113.4% in the 2nd quarter. MAI Capital Management now owns 414 shares of the company’s stock valued at $38,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $110.43 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average is $94.34 and its two-hundred day moving average is $91.50. Coca-Cola Europacific Partners has a twelve month low of $80.70 and a twelve month high of $110.90.

Analysts Set New Price Targets

Several research analysts have commented on CCEP shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. The Goldman Sachs Group increased their price target on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. UBS Group lifted their price objective on shares of Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Bank of America reiterated a “neutral” rating and set a $96.00 target price (down from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. Finally, Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus price target of $107.71.

About Coca-Cola Europacific Partners

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.