Forsta AP Fonden Trims Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Forsta AP Fonden reduced its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 32.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,200 shares of the company's stock after selling 18,600 shares during the period. Forsta AP Fonden's holdings in Coca-Cola Europacific Partners were worth $3,008,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CCEP. Point72 Asset Management L.P. raised its stake in shares of Coca-Cola Europacific Partners by 144.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company's stock worth $87,788,000 after buying an additional 711,121 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Coca-Cola Europacific Partners in the first quarter worth $47,839,000. Point72 Europe London LLP acquired a new stake in Coca-Cola Europacific Partners in the second quarter valued at $26,341,000. Samlyn Capital LLC boosted its position in shares of Coca-Cola Europacific Partners by 23.2% during the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company's stock worth $135,155,000 after purchasing an additional 349,466 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in shares of Coca-Cola Europacific Partners by 2,575.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 256,029 shares of the company's stock worth $20,244,000 after purchasing an additional 246,458 shares during the period. Institutional investors and hedge funds own 31.35% of the company's stock.

Analysts Set New Price Targets

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

Coca-Cola Europacific Partners Trading Up 0.2 %

Shares of Coca-Cola Europacific Partners stock traded up $0.18 during mid-day trading on Wednesday, hitting $76.44. 493,624 shares of the stock were exchanged, compared to its average volume of 1,396,207. The company has a 50-day simple moving average of $79.02 and a 200 day simple moving average of $75.23. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $34.92 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 3.54 and a beta of 0.90. Coca-Cola Europacific Partners PLC has a twelve month low of $57.48 and a twelve month high of $82.32.

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.