Private Management Group Inc. Reduces Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Private Management Group Inc. reduced its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,442 shares of the company's stock after selling 18,610 shares during the quarter. Private Management Group Inc.'s holdings in Coca-Cola Europacific Partners were worth $17,281,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Samlyn Capital LLC increased 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 valued at $135,155,000 after purchasing an additional 349,466 shares during the last quarter. Millennium Management LLC increased its stake in Coca-Cola Europacific Partners by 7.6% in the second quarter. Millennium Management LLC now owns 1,636,023 shares of the company's stock valued at $119,217,000 after purchasing an additional 115,604 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Coca-Cola Europacific Partners by 144.1% in the second quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company's stock valued at $87,788,000 after purchasing an additional 711,121 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Coca-Cola Europacific Partners by 3.4% in the second quarter. Public Sector Pension Investment Board now owns 887,013 shares of the company's stock valued at $64,637,000 after purchasing an additional 29,181 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Coca-Cola Europacific Partners during the first quarter worth about $47,839,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock traded down $0.40 during midday trading on Friday, hitting $75.60. 989,542 shares of the company were exchanged, compared to its average volume of 1,396,220. The company's fifty day moving average price is $78.88 and its 200-day moving average price is $75.37. 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 fifty-two week low of $58.94 and a fifty-two week high of $82.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup upgraded Coca-Cola Europacific Partners to a "strong-buy" rating in a research note on Thursday, October 3rd. Bank of America upped their price target on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, July 10th. 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 note on Tuesday, September 10th. Barclays dropped their price target on Coca-Cola Europacific Partners from $85.00 to $84.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Finally, 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 research note on Monday, September 9th. Two equities 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. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and a consensus price target 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.