abrdn plc Trims Stock Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

abrdn plc reduced its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 21.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,632 shares of the company's stock after selling 80,643 shares during the quarter. abrdn plc owned about 0.07% of Coca-Cola Europacific Partners worth $23,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in Coca-Cola Europacific Partners by 144.1% during the second quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company's stock worth $87,788,000 after purchasing an additional 711,121 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Coca-Cola Europacific Partners in the 1st quarter worth approximately $47,839,000. Point72 Europe London LLP bought a new stake in Coca-Cola Europacific Partners in the 2nd quarter worth approximately $26,341,000. Samlyn Capital LLC boosted its stake in Coca-Cola Europacific Partners by 23.2% in the second quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company's stock worth $135,155,000 after buying an additional 349,466 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in Coca-Cola Europacific Partners by 2,575.0% during the third quarter. Vontobel Holding Ltd. now owns 256,029 shares of the company's stock valued at $20,244,000 after acquiring an additional 246,458 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Stock Down 0.5 %

NASDAQ:CCEP traded down $0.40 during trading hours on Friday, hitting $75.60. The company had a trading volume of 988,997 shares, compared to its average volume of 1,396,220. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners PLC has a 52 week low of $58.94 and a 52 week high of $82.32. The stock has a 50-day moving average price of $78.88 and a 200 day moving average price of $75.31.

Analysts Set New Price Targets

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

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.