Coca-Cola Europacific Partners $CCEP Shares Sold by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR significantly reduced its stake in Coca-Cola Europacific Partners by 84.7%, selling 18,333 shares and holding only 3,308 shares afterward.
• Several hedge funds have increased their positions in Coca-Cola Europacific Partners, with Assetmark Inc. raising its stake by 107.3% during the first quarter.
• Coca-Cola Europacific Partners has received mixed ratings from analysts, with five giving a Buy rating and three a Hold rating, reflecting investor uncertainty.

Generali Asset Management SPA SGR lowered its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 84.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,308 shares of the company's stock after selling 18,333 shares during the period. Generali Asset Management SPA SGR's holdings in Coca-Cola Europacific Partners were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Assetmark Inc. raised its position in shares of Coca-Cola Europacific Partners by 107.3% during the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Coca-Cola Europacific Partners by 204.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after acquiring an additional 245 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth about $33,000. Motco raised its position in shares of Coca-Cola Europacific Partners by 285.7% during the 1st quarter. Motco now owns 405 shares of the company's stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Finally, Quarry LP raised its position in shares of Coca-Cola Europacific Partners by 115.8% during the 1st quarter. Quarry LP now owns 436 shares of the company's stock worth $38,000 after acquiring an additional 234 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCEP. Weiss Ratings reissued a "buy (b+)" rating on shares of Coca-Cola Europacific Partners in a research report on Wednesday, October 8th. Morgan Stanley lowered Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Barclays cut their price target on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, UBS Group lifted 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. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $92.40.

Coca-Cola Europacific Partners Trading Up 1.4%

NASDAQ:CCEP opened at $90.54 on Friday. The firm has a market cap of $41.73 billion, a P/E ratio of 18.63, a PEG ratio of 2.59 and a beta of 0.77. 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 stock's 50 day simple moving average is $89.48 and its 200-day simple moving average is $90.92. Coca-Cola Europacific Partners has a 12-month low of $73.40 and a 12-month high of $100.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.