Coca-Cola Europacific Partners $CCEP Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 8.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 76,855 shares of the company’s stock after selling 6,828 shares during the quarter. Rhumbline Advisers’ holdings in Coca-Cola Europacific Partners were worth $6,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. bought a new position in shares of Coca-Cola Europacific Partners in the third quarter worth $31,000. First Command Advisory Services Inc. lifted its holdings in Coca-Cola Europacific Partners by 1,800.0% in the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock worth $33,000 after purchasing an additional 342 shares during the period. First Horizon Advisors Inc. grew its position in Coca-Cola Europacific Partners by 61.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $34,000 after buying an additional 138 shares in the last quarter. Westerkirk Capital Inc. bought a new position in shares of Coca-Cola Europacific Partners in the second quarter valued at approximately $37,000. Finally, MAI Capital Management increased its stake in shares of Coca-Cola Europacific Partners by 113.4% during the second quarter. MAI Capital Management now owns 414 shares of the company’s stock valued at $38,000 after acquiring an additional 220 shares during the period. Institutional investors own 31.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CCEP. UBS Group upped 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 upped their price objective on Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a report on Thursday, January 8th. Evercore reiterated an “outperform” rating and issued a $112.00 price target on shares of Coca-Cola Europacific Partners in a research report on Wednesday. Finally, Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.71.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $105.70 on Monday. Coca-Cola Europacific Partners has a 52-week low of $80.70 and a 52-week high of $106.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The stock’s fifty day simple moving average is $92.70 and its 200 day simple moving average is $90.97.

Coca-Cola Europacific Partners 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.