Cannell & Spears LLC Has $17.41 Million Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Cannell & Spears LLC boosted its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 226,634 shares of the company's stock after buying an additional 34,185 shares during the quarter. Cannell & Spears LLC's holdings in Coca-Cola Europacific Partners were worth $17,408,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CCEP. SBI Securities Co. Ltd. bought a new stake in Coca-Cola Europacific Partners during the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Coca-Cola Europacific Partners by 85.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company's stock valued at $33,000 after acquiring an additional 197 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth $34,000. Whipplewood Advisors LLC bought a new position in Coca-Cola Europacific Partners during the fourth quarter worth $52,000. Finally, Blue Trust Inc. boosted its holdings in Coca-Cola Europacific Partners by 16.2% in the 4th quarter. Blue Trust Inc. now owns 1,189 shares of the company's stock valued at $94,000 after purchasing an additional 166 shares during the period. 31.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. Morgan Stanley raised Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. Evercore ISI boosted their price objective on 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. UBS Group upped their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Finally, Barclays boosted their price target on shares of Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded down $3.86 on Friday, hitting $85.96. The company's stock had a trading volume of 1,450,929 shares, compared to its average volume of 1,621,413. The company has a market capitalization of $39.62 billion, a PE ratio of 17.69, a PEG ratio of 4.89 and a beta of 0.73. Coca-Cola Europacific Partners PLC has a fifty-two week low of $65.94 and a fifty-two week high of $92.09. The company has a 50 day moving average price of $83.63 and a 200 day moving average price of $79.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63.

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.