Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,680 shares of the company's stock after selling 3,111 shares during the quarter. Rhumbline Advisers' holdings in Coca-Cola Europacific Partners were worth $6,351,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CCEP. MassMutual Private Wealth & Trust FSB lifted its position in Coca-Cola Europacific Partners by 85.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company's stock worth $33,000 after acquiring an additional 197 shares during the period. Plato Investment Management Ltd purchased a new position in shares of Coca-Cola Europacific Partners in the third quarter worth about $50,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Coca-Cola Europacific Partners by 1,604.0% during the third quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company's stock worth $67,000 after purchasing an additional 802 shares during the period. Blue Trust Inc. boosted its position in Coca-Cola Europacific Partners by 21.5% in the third quarter. Blue Trust Inc. now owns 1,023 shares of the company's stock valued at $75,000 after buying an additional 181 shares during the last quarter. Finally, Icon Wealth Advisors LLC acquired a new position in Coca-Cola Europacific Partners in the 3rd quarter worth approximately $105,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CCEP shares. Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. Sanford C. Bernstein began coverage on shares of Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They issued a "market perform" rating and a $82.00 price target on the stock. Evercore ISI lifted their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and an average price target of $85.00.

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Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP traded up $0.14 during trading hours on Friday, reaching $86.26. The company's stock had a trading volume of 2,235,891 shares, compared to its average volume of 1,722,823. The firm has a market capitalization of $39.76 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 4.89 and a beta of 0.91. The company's 50-day moving average is $79.35 and its two-hundred day moving average is $78.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. Coca-Cola Europacific Partners PLC has a 1-year low of $65.94 and a 1-year high of $88.39.

Coca-Cola Europacific Partners 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.