Charles Schwab Investment Management Inc. Reduces Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Charles Schwab Investment Management Inc. cut its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 241,877 shares of the company’s stock after selling 8,787 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $18,579,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its position in shares of Coca-Cola Europacific Partners by 15.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 4,317 shares of the company’s stock worth $340,000 after acquiring an additional 579 shares in the last quarter. Swiss National Bank grew its position in shares of Coca-Cola Europacific Partners by 0.5% in the 3rd quarter. Swiss National Bank now owns 619,014 shares of the company’s stock worth $48,747,000 after acquiring an additional 3,200 shares in the last quarter. Pathstone Holdings LLC grew its position in shares of Coca-Cola Europacific Partners by 1.6% in the 3rd quarter. Pathstone Holdings LLC now owns 47,473 shares of the company’s stock worth $3,738,000 after acquiring an additional 756 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Coca-Cola Europacific Partners by 6.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,394 shares of the company’s stock worth $1,134,000 after acquiring an additional 815 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Coca-Cola Europacific Partners in the 3rd quarter worth approximately $482,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $85.68 on Thursday. Coca-Cola Europacific Partners PLC has a 1-year low of $65.94 and a 1-year high of $88.39. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $39.49 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 4.89 and a beta of 0.91. The stock’s fifty day simple moving average is $81.38 and its 200-day simple moving average is $79.11.

Analysts Set New Price Targets

CCEP has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price objective for the company. Evercore ISI boosted their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Morgan Stanley upgraded Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. lowered Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. Finally, UBS Group boosted their price target on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.88.

About Coca-Cola Europacific Partners

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.