Victory Capital Management Inc. Trims Stake in Coca-Cola Europacific Partners $CCEP

Victory Capital Management Inc. lessened its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 25.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 202,770 shares of the company’s stock after selling 67,874 shares during the period. Victory Capital Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $18,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. acquired a new position in Coca-Cola Europacific Partners in the third quarter valued at about $31,000. First Command Advisory Services Inc. raised its stake in shares of Coca-Cola Europacific Partners by 1,800.0% in the 3rd quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock valued at $33,000 after acquiring an additional 342 shares during the period. First Horizon Advisors Inc. raised its stake in shares of 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 during the period. Westerkirk Capital Inc. acquired a new position in shares of Coca-Cola Europacific Partners in the 2nd quarter worth approximately $37,000. Finally, MAI Capital Management lifted its holdings in shares of 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 acquiring an additional 220 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Evercore reiterated an “outperform” rating and issued a $112.00 target price on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. JPMorgan Chase & Co. lifted their price objective 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. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $96.00 target price (down from $102.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Coca-Cola Europacific Partners presently 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 $101.72 on Wednesday. Coca-Cola Europacific Partners has a 52 week low of $80.70 and a 52 week high of $110.90. The company’s 50 day moving average is $95.98 and its two-hundred day moving average is $92.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60.

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.