Prudential Financial Inc. Sells 20,852 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Prudential Financial Inc. cut its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 66.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,418 shares of the company's stock after selling 20,852 shares during the quarter. Prudential Financial Inc.'s holdings in Coca-Cola Europacific Partners were worth $800,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in Coca-Cola Europacific Partners by 120.8% during the fourth quarter. SG Americas Securities LLC now owns 433,121 shares of the company's stock worth $33,268,000 after buying an additional 236,917 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Coca-Cola Europacific Partners during the 4th quarter valued at approximately $14,999,000. Generate Investment Management Ltd purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $14,195,000. Verde Servicos Internacionais S.A. bought a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter worth approximately $14,124,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter worth approximately $12,075,000. 31.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Evercore ISI raised their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Barclays lifted their price objective on Coca-Cola Europacific Partners from $99.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. One investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.13.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP traded up $1.61 during trading hours on Friday, hitting $86.60. The company had a trading volume of 2,756,288 shares, compared to its average volume of 1,687,449. The firm has a 50 day simple moving average of $84.58 and a 200 day simple moving average of $79.73. Coca-Cola Europacific Partners PLC has a 52 week low of $65.94 and a 52 week high of $91.29. The firm has a market capitalization of $39.92 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 4.89 and a beta of 0.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81.

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.