Envestnet Asset Management Inc. Sells 27,623 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Envestnet Asset Management Inc. lowered its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 521,405 shares of the company's stock after selling 27,623 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Coca-Cola Europacific Partners worth $40,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its stake in shares of Coca-Cola Europacific Partners by 0.4% in the third quarter. HighTower Advisors LLC now owns 41,187 shares of the company's stock valued at $3,242,000 after purchasing an additional 177 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Coca-Cola Europacific Partners by 4.1% in the 3rd quarter. Wellington Management Group LLP now owns 461,785 shares of the company's stock worth $36,366,000 after buying an additional 18,133 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Coca-Cola Europacific Partners by 6.4% during the 3rd quarter. MML Investors Services LLC now owns 6,390 shares of the company's stock worth $503,000 after buying an additional 384 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Coca-Cola Europacific Partners in the 3rd quarter valued at $618,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Coca-Cola Europacific Partners by 4.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 76,449 shares of the company's stock valued at $6,020,000 after acquiring an additional 3,131 shares during the period. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Up 1.8 %

NASDAQ:CCEP traded up $1.54 on Thursday, reaching $89.44. The company's stock had a trading volume of 507,511 shares, compared to its average volume of 1,692,519. Coca-Cola Europacific Partners PLC has a 1-year low of $65.94 and a 1-year high of $91.29. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The firm has a market cap of $41.23 billion, a PE ratio of 18.40, a PEG ratio of 4.89 and a beta of 0.73. The business's 50-day moving average price is $85.08 and its two-hundred day moving average price is $79.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Barclays increased their price target on Coca-Cola Europacific Partners from $99.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Finally, Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.13.

Coca-Cola Europacific Partners Company Profile

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.