Alberta Investment Management Corp Trims Stock Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Alberta Investment Management Corp has decreased its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 38.2%, holding 21,700 shares worth approximately $1.89 million after selling 13,400 shares in the first quarter.
• Several institutional investors, including Assetmark Inc. and Cullen Frost Bankers Inc., have significantly increased their stakes in CCEP, indicating a mixed sentiment among institutional investors.
• Analysts have recently updated their price targets for CCEP, with UBS raising its target to $105.00 and Barclays setting it at $104.00, while the consensus rating remains a Moderate Buy with an average price target of $90.57.

Alberta Investment Management Corp cut its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 38.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,700 shares of the company's stock after selling 13,400 shares during the quarter. Alberta Investment Management Corp's holdings in Coca-Cola Europacific Partners were worth $1,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CCEP. Invesco Ltd. increased its holdings in Coca-Cola Europacific Partners by 26.3% during the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock worth $777,312,000 after buying an additional 2,105,019 shares during the last quarter. FMR LLC lifted its stake in Coca-Cola Europacific Partners by 3.3% during the 4th quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after acquiring an additional 229,679 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Coca-Cola Europacific Partners by 1.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company's stock valued at $190,243,000 after buying an additional 38,911 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Coca-Cola Europacific Partners by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 2,130,501 shares of the company's stock valued at $162,748,000 after acquiring an additional 82,325 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coca-Cola Europacific Partners by 253.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock worth $169,537,000 after purchasing an additional 1,397,394 shares during the last quarter. 31.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CCEP has been the subject of several research reports. UBS Group boosted their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Barclays restated an "overweight" rating and issued a $104.00 target price (up from $101.00) on shares of Coca-Cola Europacific Partners in a report on Tuesday, July 15th. Finally, Wall Street Zen cut Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and an average target price of $90.57.

Coca-Cola Europacific Partners Stock Up 0.5%

Shares of NASDAQ CCEP traded up $0.45 during midday trading on Tuesday, hitting $98.33. 1,877,762 shares of the company's stock were exchanged, compared to its average volume of 1,571,014. The company has a market cap of $45.33 billion, a PE ratio of 20.23, a P/E/G ratio of 2.56 and a beta of 0.75. Coca-Cola Europacific Partners has a twelve month low of $71.49 and a twelve month high of $100.67. The firm's fifty day simple moving average is $94.45 and its 200-day simple moving average is $88.39. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.62.

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.