Coca-Cola Europacific Partners $CCEP Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 6.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,089,910 shares of the company’s stock after selling 81,058 shares during the period. Nordea Investment Management AB’s holdings in Coca-Cola Europacific Partners were worth $99,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CCEP. 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. increased 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 valued at $33,000 after purchasing an additional 342 shares during the period. Westerkirk Capital Inc. bought a new stake in shares of Coca-Cola Europacific Partners during the second quarter valued at about $37,000. MAI Capital Management lifted its holdings in Coca-Cola Europacific Partners by 113.4% in the second 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. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in Coca-Cola Europacific Partners by 125.3% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 446 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CCEP. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Bank of America reiterated a “neutral” rating and issued a $96.00 price objective (down from $102.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, January 14th. The Goldman Sachs Group raised their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Evercore reissued an “outperform” rating and set a $112.00 target price on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.71.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $91.62 on Monday. The stock has a 50-day simple moving average of $97.61 and a 200 day simple moving average of $92.67. Coca-Cola Europacific Partners has a fifty-two week low of $81.00 and a fifty-two week high of $110.90. 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 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.