Aberdeen Group plc Sells 276,681 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Aberdeen Group plc significantly reduced its stake in Coca-Cola Europacific Partners by 92.9%, selling 276,681 shares during the 1st quarter, leaving them with only 21,261 shares valued at approximately $1.85 million.
• Several other financial institutions, including Vanguard Group and Goldman Sachs, increased their holdings in the company, suggesting mixed sentiment among institutional investors.
• Analyst ratings for Coca-Cola Europacific Partners have been varied, with recent upgrades from UBS and downgrades from Morgan Stanley, leading to a current average rating of "Moderate Buy" among analysts.

Aberdeen Group plc cut its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 92.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,261 shares of the company's stock after selling 276,681 shares during the period. Aberdeen Group plc's holdings in Coca-Cola Europacific Partners were worth $1,848,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in shares of Coca-Cola Europacific Partners during the 1st quarter worth about $690,000. Vestmark Advisory Solutions Inc. grew its stake in Coca-Cola Europacific Partners by 100.4% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 7,726 shares of the company's stock valued at $672,000 after buying an additional 3,871 shares during the last quarter. Sienna Gestion grew its stake in Coca-Cola Europacific Partners by 443.5% in the 1st quarter. Sienna Gestion now owns 23,494 shares of the company's stock valued at $1,988,000 after buying an additional 19,171 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in Coca-Cola Europacific Partners by 113.6% in the 1st quarter. E Fund Management Co. Ltd. now owns 11,607 shares of the company's stock valued at $1,010,000 after buying an additional 6,174 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Coca-Cola Europacific Partners by 10.7% in the 1st quarter. Russell Investments Group Ltd. now owns 180,852 shares of the company's stock valued at $15,726,000 after buying an additional 17,486 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Barclays decreased their price target on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.43.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ:CCEP traded down $0.75 on Wednesday, reaching $88.53. 1,673,645 shares of the company's stock were exchanged, compared to its average volume of 1,975,608. The company has a fifty day moving average of $94.43 and a 200-day moving average of $89.85. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67. The company has a market capitalization of $40.81 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.59 and a beta of 0.75. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

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.