Coca-Cola Europacific Partners $CCEP Position Reduced by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS trimmed its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 47.3% during the fourth quarter, HoldingsChannel reports. The fund owned 90,300 shares of the company’s stock after selling 81,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Coca-Cola Europacific Partners were worth $8,190,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in Coca-Cola Europacific Partners during the 3rd quarter valued at $31,000. First Command Advisory Services Inc. boosted its stake in Coca-Cola Europacific Partners by 1,800.0% during the 3rd 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. E Fund Management Hong Kong Co. Ltd. boosted its stake in Coca-Cola Europacific Partners by 125.3% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 446 shares of the company’s stock valued at $40,000 after acquiring an additional 248 shares during the last quarter. GAMMA Investing LLC boosted its stake in Coca-Cola Europacific Partners by 30.7% during the 3rd quarter. GAMMA Investing LLC now owns 672 shares of the company’s stock valued at $61,000 after acquiring an additional 158 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its stake in Coca-Cola Europacific Partners by 802.2% during the 3rd quarter. Bayforest Capital Ltd now owns 803 shares of the company’s stock valued at $73,000 after acquiring an additional 714 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $98.06 on Friday. The firm’s 50-day moving average is $98.84 and its 200-day moving average is $93.59. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $110.90.

Analyst Ratings Changes

CCEP has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 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 price objective (down from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $114.00 price target on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Finally, Barclays reduced their price target on shares of Coca-Cola Europacific Partners from $111.00 to $106.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

Coca-Cola Europacific Partners Company 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.