Coca-Cola Europacific Partners $CCEP Shares Sold by Ilmarinen Mutual Pension Insurance Co

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 lessened its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 30.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 165,000 shares of the company's stock after selling 72,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Coca-Cola Europacific Partners were worth $14,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. boosted 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 valued at $25,000 after acquiring an additional 147 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Coca-Cola Europacific Partners during the 1st quarter valued at about $28,000. Cullen Frost Bankers Inc. boosted 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 valued at $32,000 after acquiring an additional 245 shares during the last quarter. HM Payson & Co. acquired a new position in shares of Coca-Cola Europacific Partners during the 1st quarter valued at about $33,000. Finally, Motco boosted 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 valued at $35,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Down 0.8%

NASDAQ:CCEP traded down $0.72 on Monday, reaching $88.99. 558,983 shares of the company's stock were exchanged, compared to its average volume of 2,135,523. The business has a fifty day moving average of $93.40 and a 200-day moving average of $90.25. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a 52-week low of $73.40 and a 52-week high of $100.67. The firm has a market capitalization of $41.02 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.60 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. UBS Group upped 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 decreased their target price on shares of 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. Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.40.

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.