Gabelli Funds LLC Lowers Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Gabelli Funds LLC trimmed its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 26.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,400 shares of the company's stock after selling 15,000 shares during the quarter. Gabelli Funds LLC's holdings in Coca-Cola Europacific Partners were worth $3,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CCEP. Cibc World Markets Corp boosted its holdings in Coca-Cola Europacific Partners by 1.4% during the fourth quarter. Cibc World Markets Corp now owns 10,200 shares of the company's stock worth $783,000 after purchasing an additional 139 shares during the last quarter. TIAA Trust National Association boosted its stake in shares of Coca-Cola Europacific Partners by 4.4% in the 4th quarter. TIAA Trust National Association now owns 3,420 shares of the company's stock worth $263,000 after buying an additional 145 shares during the last quarter. Moody Lynn & Lieberson LLC grew its holdings in shares of Coca-Cola Europacific Partners by 5.0% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 3,149 shares of the company's stock valued at $242,000 after acquiring an additional 150 shares in the last quarter. Blue Trust Inc. increased its position in shares of Coca-Cola Europacific Partners by 16.2% during the fourth quarter. Blue Trust Inc. now owns 1,189 shares of the company's stock valued at $94,000 after acquiring an additional 166 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in Coca-Cola Europacific Partners by 4.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 3,855 shares of the company's stock worth $296,000 after acquiring an additional 172 shares during the period. Institutional investors own 31.35% of the company's stock.

Wall Street Analyst Weigh In

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

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $89.31 on Friday. The company's 50 day moving average is $85.26 and its 200-day moving average is $79.98. The firm has a market cap of $41.17 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 4.89 and a beta of 0.73. Coca-Cola Europacific Partners PLC has a 12-month low of $66.21 and a 12-month high of $91.29. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

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.

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