Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Stake Decreased by Forsta AP Fonden

Forsta AP Fonden trimmed its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 32.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 38,200 shares of the company’s stock after selling 18,600 shares during the quarter. Forsta AP Fonden’s holdings in Coca-Cola Europacific Partners were worth $3,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Samlyn Capital LLC grew its stake in shares of Coca-Cola Europacific Partners by 23.2% in the second quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock worth $135,155,000 after purchasing an additional 349,466 shares in the last quarter. Millennium Management LLC grew its position in Coca-Cola Europacific Partners by 7.6% in the 2nd quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock valued at $119,217,000 after buying an additional 115,604 shares in the last quarter. Point72 Asset Management L.P. grew its position in Coca-Cola Europacific Partners by 144.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock valued at $87,788,000 after buying an additional 711,121 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Coca-Cola Europacific Partners by 3.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 887,013 shares of the company’s stock valued at $64,637,000 after buying an additional 29,181 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth about $47,839,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CCEP shares. BNP Paribas cut shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a report on Tuesday, September 10th. Bank of America increased their price target on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Barclays cut their price objective on Coca-Cola Europacific Partners from $85.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.88.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $76.26 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. The firm has a market cap of $34.83 billion, a PE ratio of 16.26, a P/E/G ratio of 3.54 and a beta of 0.90. The business has a fifty day simple moving average of $79.02 and a 200-day simple moving average of $75.23. Coca-Cola Europacific Partners PLC has a fifty-two week low of $57.48 and a fifty-two week high of $82.32.

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.