Coca-Cola Europacific Partners $CCEP Position Lessened by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 27.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,582 shares of the company’s stock after selling 40,256 shares during the period. J. Safra Sarasin Holding AG’s holdings in Coca-Cola Europacific Partners were worth $9,758,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Coca-Cola Europacific Partners by 10.5% during the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after purchasing an additional 677 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Coca-Cola Europacific Partners by 23.9% during the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after acquiring an additional 156 shares in the last quarter. MAI Capital Management lifted its stake in Coca-Cola Europacific Partners by 113.4% in 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 last quarter. Rhumbline Advisers grew its position in Coca-Cola Europacific Partners by 1.4% in the second quarter. Rhumbline Advisers now owns 83,683 shares of the company’s stock worth $7,759,000 after acquiring an additional 1,166 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Coca-Cola Europacific Partners by 74.7% during the 2nd quarter. Prudential Financial Inc. now owns 18,378 shares of the company’s stock worth $1,704,000 after purchasing an additional 7,860 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CCEP. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. JPMorgan Chase & Co. upped their price target on 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. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. UBS Group boosted their target price on Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Finally, Evercore reiterated an “outperform” rating and set a $112.00 price target 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 given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.71.

Coca-Cola Europacific Partners Stock Down 0.6%

CCEP stock opened at $91.13 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. Coca-Cola Europacific Partners has a 52-week low of $81.00 and a 52-week high of $110.90. The company has a 50-day moving average of $98.00 and a two-hundred day moving average of $92.79.

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.