M&G PLC Sells 7,781 Shares of Coca-Cola Europacific Partners $CCEP

M&G PLC reduced its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 81,797 shares of the company’s stock after selling 7,781 shares during the period. M&G PLC’s holdings in Coca-Cola Europacific Partners were worth $7,362,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. TIAA Trust National Association lifted its position in Coca-Cola Europacific Partners by 3.2% in the 2nd 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 in the last quarter. Choreo LLC raised its stake in shares of Coca-Cola Europacific Partners by 4.5% in 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 period. Concurrent Investment Advisors LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 2.9% in the third quarter. Concurrent Investment Advisors LLC now owns 4,323 shares of the company’s stock valued at $391,000 after purchasing an additional 123 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Coca-Cola Europacific Partners by 0.5% during the third 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 period. Finally, Versant Capital Management Inc grew its holdings 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 worth $150,000 after buying an additional 132 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group cut their target price on 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 reiterated an “overweight” rating and issued a $101.00 price objective on shares of Coca-Cola Europacific Partners in a report on Friday, January 16th. Bank of America restated a “neutral” rating and set a $96.00 target price (down previously from $102.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Finally, Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, January 9th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.80.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP opened at $99.51 on Tuesday. Coca-Cola Europacific Partners has a 1-year low of $80.70 and a 1-year high of $100.67. The firm has a fifty day simple moving average of $91.50 and a 200 day simple moving average of $90.73. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65.

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.