Legal & General Group Plc Cuts Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Legal & General Group Plc cut its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,857,195 shares of the company’s stock after selling 382,181 shares during the quarter. Legal & General Group Plc’s holdings in Coca-Cola Europacific Partners were worth $142,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Coca-Cola Europacific Partners by 28.1% in the fourth quarter. LPL Financial LLC now owns 117,700 shares of the company’s stock valued at $9,041,000 after acquiring an additional 25,840 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Coca-Cola Europacific Partners by 43.3% during the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock worth $221,835,000 after purchasing an additional 872,060 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Coca-Cola Europacific Partners in the 4th quarter valued at about $446,000. World Investment Advisors LLC acquired a new stake in Coca-Cola Europacific Partners in the 3rd quarter valued at about $6,975,000. Finally, Amundi boosted its stake in shares of Coca-Cola Europacific Partners by 2.9% in the 4th quarter. Amundi now owns 3,078,851 shares of the company’s stock valued at $233,716,000 after buying an additional 87,675 shares during the period. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Down 0.1 %

Coca-Cola Europacific Partners stock opened at $84.99 on Friday. The company has a market capitalization of $39.18 billion, a P/E ratio of 17.49, a PEG ratio of 4.89 and a beta of 0.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. Coca-Cola Europacific Partners PLC has a fifty-two week low of $65.94 and a fifty-two week high of $91.29. The stock has a 50-day simple moving average of $84.41 and a 200-day simple moving average of $79.67.

Wall Street Analyst Weigh In

CCEP has been the topic of several analyst reports. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. Barclays boosted their target price on shares of Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Finally, Evercore ISI increased their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.00.

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.