Ilmarinen Mutual Pension Insurance Co Sells 72,500 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Coca-Cola Europacific Partners by 30.5%, selling 72,500 shares, leaving it with 165,000 shares valued at $14.36 million.
• Several institutional investors, including Assetmark Inc. and Cullen Frost Bankers Inc., significantly increased their positions in Coca-Cola Europacific Partners during the first quarter of the year.
• The stock currently has a market cap of $42.15 billion, with a 52-week price range between $73.40 and $100.67, and is rated as a "Moderate Buy" with an average target price of $92.40.

Ilmarinen Mutual Pension Insurance Co cut its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 30.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 165,000 shares of the company's stock after selling 72,500 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Coca-Cola Europacific Partners were worth $14,360,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised 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 valued at $862,167,000 after purchasing an additional 8,126,996 shares during the last quarter. Nuveen LLC purchased a new position in shares of Coca-Cola Europacific Partners during the first quarter valued at approximately $162,036,000. Sumitomo Mitsui Trust Group Inc. raised 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 valued at $169,537,000 after purchasing an additional 1,397,394 shares during the last quarter. Goldman Sachs Group Inc. raised 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 valued at $540,050,000 after purchasing an additional 1,214,493 shares during the last quarter. Finally, AGF Management Ltd. raised its holdings in shares of Coca-Cola Europacific Partners by 13,956.3% during the first quarter. AGF Management Ltd. now owns 595,143 shares of the company's stock valued at $51,795,000 after purchasing an additional 590,909 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. UBS Group boosted their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Barclays cut their target price on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.40.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded down $0.35 during mid-day trading on Friday, reaching $89.71. The stock had a trading volume of 1,128,912 shares, compared to its average volume of 2,030,219. The firm has a market cap of $41.35 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.62 and a beta of 0.78. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67. The business has a fifty day moving average of $93.40 and a 200 day moving average of $90.19. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83.

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.