JPMorgan Chase & Co. Sells 522,974 Shares of Coca-Cola Europacific Partners $CCEP

JPMorgan Chase & Co. lessened its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 23.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,743,596 shares of the company’s stock after selling 522,974 shares during the period. JPMorgan Chase & Co. owned about 0.38% of Coca-Cola Europacific Partners worth $157,639,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CCEP. State of New Jersey Common Pension Fund D raised its holdings in Coca-Cola Europacific Partners by 14.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 105,265 shares of the company’s stock worth $9,517,000 after acquiring an additional 13,200 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 1.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 21,711 shares of the company’s stock worth $1,963,000 after purchasing an additional 266 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Coca-Cola Europacific Partners by 1.0% in the third quarter. HighTower Advisors LLC now owns 37,568 shares of the company’s stock worth $3,396,000 after purchasing an additional 390 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 76.0% during the third quarter. Assetmark Inc. now owns 1,051 shares of the company’s stock valued at $95,000 after purchasing an additional 454 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Coca-Cola Europacific Partners by 10.0% during the third quarter. Public Sector Pension Investment Board now owns 152,283 shares of the company’s stock valued at $13,768,000 after buying an additional 13,800 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP opened at $105.70 on Friday. Coca-Cola Europacific Partners has a one year low of $80.70 and a one year high of $106.04. The business has a fifty day moving average price of $92.70 and a 200-day moving average price of $90.98. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.65 and a current ratio of 0.80.

Analyst Ratings Changes

A number of equities analysts have weighed in on CCEP shares. UBS Group boosted their target price on Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays lifted their price target on shares of Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore restated an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday. Bank of America reaffirmed a “neutral” rating and issued a $96.00 target price (down previously from $102.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.71.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.