Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Stake Trimmed by Raymond James & Associates

Raymond James & Associates trimmed its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 199,895 shares of the company's stock after selling 17,266 shares during the quarter. Raymond James & Associates' holdings in Coca-Cola Europacific Partners were worth $15,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in Coca-Cola Europacific Partners during the 1st quarter worth $36,000. New Covenant Trust Company N.A. bought a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at about $36,000. New Millennium Group LLC purchased a new stake in shares of Coca-Cola Europacific Partners in the second quarter worth $37,000. Mather Group LLC. raised its position in Coca-Cola Europacific Partners by 142.0% during the second quarter. Mather Group LLC. now owns 668 shares of the company's stock valued at $47,000 after purchasing an additional 392 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Coca-Cola Europacific Partners in the 2nd quarter worth about $56,000. 31.35% of the stock is owned by institutional investors.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock traded up $0.08 during mid-day trading on Friday, reaching $77.98. The company had a trading volume of 1,022,872 shares, compared to its average volume of 1,404,587. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. The stock's 50-day simple moving average is $79.04 and its 200-day simple moving average is $75.11. Coca-Cola Europacific Partners PLC has a 1 year low of $57.48 and a 1 year high of $82.32. The company has a market capitalization of $35.62 billion, a P/E ratio of 16.63, a P/E/G ratio of 3.54 and a beta of 0.90.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCEP. BNP Paribas lowered Coca-Cola Europacific Partners from an "outperform" rating to a "neutral" rating and set a $81.00 price target for the company. in a research report on Tuesday, September 10th. Bank of America lifted their price objective on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, September 9th. Barclays dropped their price target on shares of Coca-Cola Europacific Partners from $85.00 to $84.00 and set an "overweight" rating for the company in a research report on Friday, October 11th. Finally, Citigroup raised Coca-Cola Europacific Partners to a "strong-buy" rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.88.

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.