Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Sold by Citigroup Inc.

Key Points

• Citigroup Inc. has reduced its stake in Coca-Cola Europacific Partners by 10.3%, selling 54,688 shares to hold a total of 476,534 shares valued at approximately $41.47 million.
• Large investors such as Vanguard Group and Mitsubishi UFJ Asset Management have increased their holdings in Coca-Cola Europacific Partners, reflecting shifting investor confidence.
• Analysts have mixed views on the stock, with one sell rating, several hold ratings, and price targets ranging from $90.43 to $105.00 indicating variable expectations for future performance.

Citigroup Inc. reduced its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 10.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 476,534 shares of the company's stock after selling 54,688 shares during the period. Citigroup Inc. owned 0.10% of Coca-Cola Europacific Partners worth $41,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CCEP. Assetmark Inc. raised its stake in Coca-Cola Europacific Partners by 107.3% during the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. NBC Securities Inc. purchased a new stake in Coca-Cola Europacific Partners during the 1st quarter valued at approximately $28,000. Cullen Frost Bankers Inc. raised its stake in Coca-Cola Europacific Partners by 204.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after acquiring an additional 245 shares during the last quarter. Optiver Holding B.V. purchased a new stake in Coca-Cola Europacific Partners during the 4th quarter valued at approximately $29,000. Finally, HM Payson & Co. purchased a new stake in Coca-Cola Europacific Partners during the 1st quarter valued at approximately $33,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCEP has been the subject of a number of analyst reports. UBS Group increased their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday. Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Barclays cut their target price on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of "Hold" and an average target price of $90.43.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded down $1.29 on Tuesday, reaching $93.22. The stock had a trading volume of 1,619,791 shares, compared to its average volume of 1,749,947. The firm has a market capitalization of $42.97 billion, a PE ratio of 19.18, a PEG ratio of 2.73 and a beta of 0.75. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average of $94.89 and a 200 day moving average of $89.03. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67.

Coca-Cola Europacific Partners 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.