Corebridge Financial Inc. Has $6.87 Million Stock Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• Corebridge Financial Inc. sold 11,474 shares of Coca-Cola Europacific Partners, reducing its holdings by 12.7% to a total of 78,884 shares valued at approximately $6.87 million.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have increased their stakes in Coca-Cola Europacific Partners during the first quarter, reflecting strong interest in the company.
• Analysts' ratings for Coca-Cola Europacific Partners vary, with the average rating classified as "Moderate Buy" and an average target price of $90.43.

Corebridge Financial Inc. decreased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,884 shares of the company's stock after selling 11,474 shares during the period. Corebridge Financial Inc.'s holdings in Coca-Cola Europacific Partners were worth $6,865,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CCEP. Vanguard Group Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 462.7% during the first quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company's stock worth $862,167,000 after buying an additional 8,126,996 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Coca-Cola Europacific Partners during the first quarter worth approximately $162,036,000. Sumitomo Mitsui Trust Group Inc. increased its holdings 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 buying an additional 1,397,394 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 24.3% during the first quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company's stock worth $540,050,000 after buying an additional 1,214,493 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Coca-Cola Europacific Partners by 842.4% during the fourth quarter. Jane Street Group LLC now owns 714,988 shares of the company's stock worth $54,918,000 after buying an additional 639,119 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock traded up $0.75 during midday trading on Thursday, reaching $87.42. The company had a trading volume of 1,469,136 shares, compared to its average volume of 1,765,951. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $40.30 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The stock has a fifty day simple moving average of $93.91 and a 200 day simple moving average of $90.07. Coca-Cola Europacific Partners has a 1-year low of $73.40 and a 1-year high of $100.67.

Analysts Set New Price Targets

CCEP has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Barclays lowered their price target on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, UBS Group raised 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 report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and a consensus price target of $90.43.

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.