Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by abrdn plc

abrdn plc lessened its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 9.4% during the fourth quarter, HoldingsChannel reports. The fund owned 336,025 shares of the company’s stock after selling 34,719 shares during the period. abrdn plc’s holdings in Coca-Cola Europacific Partners were worth $22,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCEP. FMR LLC grew its holdings in Coca-Cola Europacific Partners by 3.7% in the third quarter. FMR LLC now owns 6,359,772 shares of the company’s stock valued at $397,359,000 after purchasing an additional 225,744 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Coca-Cola Europacific Partners by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,525,434 shares of the company’s stock valued at $157,789,000 after purchasing an additional 47,501 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Coca-Cola Europacific Partners by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 2,221,296 shares of the company’s stock valued at $138,787,000 after purchasing an additional 168,420 shares during the last quarter. Northern Trust Corp grew its holdings in Coca-Cola Europacific Partners by 24.6% in the third quarter. Northern Trust Corp now owns 1,413,900 shares of the company’s stock valued at $88,340,000 after purchasing an additional 279,218 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Coca-Cola Europacific Partners by 4.2% in the third quarter. Ameriprise Financial Inc. now owns 1,383,485 shares of the company’s stock valued at $86,060,000 after purchasing an additional 55,808 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCEP. Argus upped their target price on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. BNP Paribas raised Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 target price on the stock in a report on Friday, January 12th. Barclays increased their price objective on Coca-Cola Europacific Partners from $74.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Finally, UBS Group increased their price objective on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.02.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $69.13 on Wednesday. The business’s 50-day moving average price is $69.39 and its 200 day moving average price is $65.49. Coca-Cola Europacific Partners PLC has a twelve month low of $56.28 and a twelve month high of $72.67. The company has a market capitalization of $31.58 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 3.13 and a beta of 0.84. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last released its earnings results on Friday, February 23rd. The company reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. On average, research analysts predict that Coca-Cola Europacific Partners PLC will post 4.18 earnings per share for the current year.

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.