DNB Asset Management AS Has $97.95 Million Position in Coca-Cola Europacific Partners $CCEP

DNB Asset Management AS cut its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 19.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,083,398 shares of the company’s stock after selling 265,367 shares during the quarter. DNB Asset Management AS’s holdings in Coca-Cola Europacific Partners were worth $97,950,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. bought a new position in Coca-Cola Europacific Partners in the third quarter valued at approximately $31,000. First Command Advisory Services Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 1,800.0% during the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock worth $33,000 after acquiring an additional 342 shares during the period. First Horizon Advisors Inc. lifted 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 acquiring an additional 138 shares in the last quarter. Westerkirk Capital Inc. acquired a new position in Coca-Cola Europacific Partners in the 2nd quarter worth $37,000. Finally, MAI Capital Management boosted its stake in Coca-Cola Europacific Partners by 113.4% in the 2nd quarter. MAI Capital Management now owns 414 shares of the company’s stock worth $38,000 after purchasing an additional 220 shares during the period. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on CCEP. Barclays lifted their price target on Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. JPMorgan Chase & Co. boosted their target price on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $114.00 price target on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. UBS Group lifted their price objective on shares of Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus price target of $107.71.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP opened at $108.35 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a twelve month low of $80.70 and a twelve month high of $109.36. The stock’s 50 day moving average price is $93.97 and its two-hundred day moving average price is $91.40.

About Coca-Cola Europacific Partners

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.