Legal & General Group Plc Decreases Stock Holdings in Coca-Cola Europacific Partners $CCEP

Legal & General Group Plc cut its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,514,931 shares of the company’s stock after selling 105,268 shares during the period. Legal & General Group Plc owned approximately 0.76% of Coca-Cola Europacific Partners worth $318,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. acquired a new position in Coca-Cola Europacific Partners during the third quarter worth $31,000. First Command Advisory Services Inc. increased 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 worth $33,000 after acquiring an additional 342 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 61.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock worth $34,000 after acquiring an additional 138 shares during the period. Westerkirk Capital Inc. purchased a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter worth $37,000. Finally, MAI Capital Management boosted its position in shares of Coca-Cola Europacific Partners by 113.4% during the 2nd 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. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CCEP. UBS Group raised their price objective on shares of Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Barclays boosted their target price on shares of Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. The Goldman Sachs Group raised their price target on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Finally, Evercore reiterated an “outperform” rating and issued a $112.00 price objective 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 assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.71.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $101.13 on Thursday. Coca-Cola Europacific Partners has a 1-year low of $81.00 and a 1-year high of $110.90. The company has a 50-day moving average of $96.19 and a two-hundred day moving average of $92.18. 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.