Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 9.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,630,034 shares of the company’s stock after selling 162,856 shares during the period. Lazard Asset Management LLC’s holdings in Coca-Cola Europacific Partners were worth $114,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCEP. Norges Bank acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at approximately $68,360,000. Point72 Asset Management L.P. raised its position in shares of Coca-Cola Europacific Partners by 89.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,156,056 shares of the company’s stock valued at $143,895,000 after acquiring an additional 1,017,278 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter valued at approximately $47,839,000. Public Sector Pension Investment Board raised its position in shares of Coca-Cola Europacific Partners by 800.5% during the 4th quarter. Public Sector Pension Investment Board now owns 663,146 shares of the company’s stock valued at $44,258,000 after acquiring an additional 589,500 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Coca-Cola Europacific Partners by 1,735.9% during the 4th quarter. First Trust Advisors LP now owns 456,425 shares of the company’s stock valued at $30,462,000 after acquiring an additional 431,564 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCEP has been the subject of a number of recent research reports. Bank of America upped their price objective on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. StockNews.com downgraded Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research note on Sunday, May 19th. Finally, Barclays lowered their price objective on Coca-Cola Europacific Partners from $84.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus target price of $76.80.

Coca-Cola Europacific Partners Trading Up 2.3 %

CCEP stock traded up $1.65 during trading hours on Friday, hitting $74.29. 994,711 shares of the stock traded hands, compared to its average volume of 1,102,277. The stock has a 50-day simple moving average of $73.61 and a 200 day simple moving average of $70.98. Coca-Cola Europacific Partners PLC has a one year low of $56.28 and a one year high of $76.44. 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 Company Profile

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.