Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 371,378 shares of the company's stock after selling 26,867 shares during the period. California Public Employees Retirement System owned approximately 0.08% of Coca-Cola Europacific Partners worth $28,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCEP. JPMorgan Chase & Co. lifted its holdings in shares of Coca-Cola Europacific Partners by 43.3% during the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock worth $221,835,000 after purchasing an additional 872,060 shares during the period. New Age Alpha Advisors LLC purchased a new position in Coca-Cola Europacific Partners during the 4th quarter worth approximately $446,000. World Investment Advisors LLC acquired a new stake in Coca-Cola Europacific Partners during the 3rd quarter valued at approximately $6,975,000. LPL Financial LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 28.1% in the 4th quarter. LPL Financial LLC now owns 117,700 shares of the company's stock valued at $9,041,000 after acquiring an additional 25,840 shares during the last quarter. Finally, Amundi increased its stake in shares of Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after acquiring an additional 87,675 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock traded down $1.15 during trading hours on Tuesday, hitting $81.84. 3,050,658 shares of the company's stock were exchanged, compared to its average volume of 1,652,094. Coca-Cola Europacific Partners PLC has a fifty-two week low of $65.94 and a fifty-two week high of $91.29. The firm has a market cap of $37.72 billion, a P/E ratio of 16.84, a P/E/G ratio of 4.89 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $84.02 and a two-hundred day moving average of $79.57.

Wall Street Analysts Forecast Growth

CCEP has been the subject of a number of research reports. Evercore ISI boosted their target price on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Morgan Stanley upgraded Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. Kepler Capital Markets lowered Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. UBS Group boosted their price target on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and a consensus target price of $87.00.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. It offers flavours, mixers, and energy drinks; soft drinks, waters, enhanced water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.