306,126 Coca-Cola Europacific Partners $CCEP Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Coca-Cola Europacific Partners stake by 17.9%, selling 306,126 shares and retaining 1.4 million shares valued at approximately $142.4 million.
• Other institutional investors increased their positions, while institutional investors and hedge funds collectively own 31.35% of CCEP’s outstanding shares.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $107.11; CCEP shares opened at $115.58, near their 12-month high of $116.01.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 17.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,400,009 shares of the company's stock after selling 306,126 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.30% of Coca-Cola Europacific Partners worth $142,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CCEP. Amundi grew its stake in shares of Coca-Cola Europacific Partners by 13.4% during the first quarter. Amundi now owns 3,399,052 shares of the company's stock worth $308,192,000 after purchasing an additional 401,683 shares in the last quarter. Bank of America Corp DE raised its stake in Coca-Cola Europacific Partners by 0.6% in the first quarter. Bank of America Corp DE now owns 2,692,575 shares of the company's stock valued at $244,136,000 after buying an additional 17,036 shares in the last quarter. Bessemer Group Inc. raised its stake in Coca-Cola Europacific Partners by 14.5% in the first quarter. Bessemer Group Inc. now owns 2,289,254 shares of the company's stock valued at $207,568,000 after buying an additional 289,080 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Coca-Cola Europacific Partners in the first quarter valued at $97,058,000. Finally, Swiss National Bank lifted its holdings in Coca-Cola Europacific Partners by 26.9% during the 1st quarter. Swiss National Bank now owns 719,614 shares of the company's stock worth $65,247,000 after buying an additional 152,400 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Coca-Cola Europacific Partners from $119.00 to $112.00 and set an "overweight" rating for the company in a research report on Friday, October 16th. Sanford C. Bernstein reissued a "market perform" rating and set a $106.00 target price on shares of Coca-Cola Europacific Partners in a research report on Wednesday, August 5th. Wells Fargo & Company decreased their target price on Coca-Cola Europacific Partners from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. UBS Group restated a "neutral" rating and set a $107.00 target price (down from $109.00) on shares of Coca-Cola Europacific Partners in a research note on Monday, October 5th. Finally, JPMorgan Chase & Co. started coverage on Coca-Cola Europacific Partners in a report on Friday, September 4th. They issued an "underweight" rating and a $92.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and a consensus price target of $107.11.

Coca-Cola Europacific Partners Stock Up 2.1%

NASDAQ CCEP opened at $115.58 on Tuesday. The firm's fifty day moving average price is $106.20 and its 200 day moving average price is $100.74. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $116.01. The company has a quick ratio of 0.68, a current ratio of 0.89 and a debt-to-equity ratio of 1.20.

Coca-Cola Europacific Partners Company Profile

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Coca-Cola Europacific Partners plc NASDAQ: CCEP is a consumer beverage company and one of the world's largest Coca-Cola bottlers. The company manufactures, distributes and sells a broad portfolio of branded beverages, including Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Fanta, Sprite, Schweppes, Fuze Tea, Powerade, Monster Energy and Costa Coffee products, depending on the market.

CCEP serves customers across Europe and the Asia-Pacific region. Its territories include Great Britain, France, Germany, Spain, Portugal, Belgium, the Netherlands, Norway, Sweden and Iceland, as well as Australia, New Zealand, Indonesia, Papua New Guinea and several Pacific island markets.

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