ING Groep NV Has $634,000 Stock Position in Coca-Cola Europacific Partners $CCEP

ING Groep NV cut its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 47.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,010 shares of the company’s stock after selling 6,235 shares during the quarter. ING Groep NV’s holdings in Coca-Cola Europacific Partners were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Coca-Cola Europacific Partners by 14.7% during the second quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock worth $1,099,562,000 after purchasing an additional 1,523,055 shares during the period. Vanguard Group Inc. grew its holdings in Coca-Cola Europacific Partners by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 10,682,027 shares of the company’s stock valued at $984,804,000 after buying an additional 798,427 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Coca-Cola Europacific Partners by 138.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock worth $527,595,000 after buying an additional 3,392,680 shares during the period. Truist Financial Corp increased its position in 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 buying an additional 4,711,093 shares during the period. Finally, State Street Corp lifted its holdings in shares of Coca-Cola Europacific Partners by 5.3% during the second quarter. State Street Corp now owns 4,729,040 shares of the company’s stock worth $438,477,000 after buying an additional 239,400 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Up 0.5%

Shares of NASDAQ:CCEP opened at $99.51 on Friday. The firm has a 50 day moving average of $91.31 and a 200-day moving average of $90.77. Coca-Cola Europacific Partners has a 12 month low of $80.70 and a 12 month high of $100.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83.

Analyst Ratings Changes

CCEP has been the topic of several research reports. UBS Group decreased their price target on shares of Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Barclays restated an “overweight” rating and set a $101.00 target price on shares of Coca-Cola Europacific Partners in a research report on Friday, January 16th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, January 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and an average price target of $100.80.

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.