Coca-Cola Europacific Partners $CCEP Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS cut its stake in Coca‑Cola Europacific Partners by 47.3%, selling 81,000 shares in Q4 and leaving 90,300 shares worth about $8.19 million.
• Wall Street consensus is a Moderate Buy (7 Buys, 3 Holds) with a mean price target of $107, and recent analyst targets range roughly from $106 to $118.
• CCEP opened at $98.06, trading in a 12‑month range of $84.65–$110.90 with 50‑/200‑day moving averages of $98.84 and $93.59, and institutional investors own about 31.35% of the stock.

KLP Kapitalforvaltning AS lowered its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 47.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,300 shares of the company's stock after selling 81,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Coca-Cola Europacific Partners were worth $8,190,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Coca-Cola Europacific Partners by 13.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,094 shares of the company's stock worth $11,129,000 after acquiring an additional 14,670 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the third quarter worth $980,000. Vestcor Inc increased its position in shares of Coca-Cola Europacific Partners by 14.4% in the third quarter. Vestcor Inc now owns 80,665 shares of the company's stock worth $7,293,000 after acquiring an additional 10,125 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of Coca-Cola Europacific Partners by 11.8% in the third quarter. iA Global Asset Management Inc. now owns 124,169 shares of the company's stock worth $11,226,000 after acquiring an additional 13,135 shares in the last quarter. Finally, NEOS Investment Management LLC increased its position in shares of Coca-Cola Europacific Partners by 77.1% in the third quarter. NEOS Investment Management LLC now owns 146,000 shares of the company's stock worth $13,200,000 after acquiring an additional 63,554 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

CCEP opened at $98.06 on Friday. The company has a fifty day simple moving average of $98.84 and a 200 day simple moving average of $93.59. Coca-Cola Europacific Partners has a twelve month low of $84.65 and a twelve month high of $110.90. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23.

Wall Street Analyst Weigh In

CCEP has been the subject of several recent research reports. Barclays dropped their price objective on shares of Coca-Cola Europacific Partners from $111.00 to $106.00 and set an "overweight" rating for the company in a research report on Tuesday, April 14th. UBS Group raised their price target on shares of Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the company a "buy" rating in a report on Wednesday, February 18th. Evercore reaffirmed an "outperform" rating and set a $112.00 price target on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $114.00 price target on shares of Coca-Cola Europacific Partners in a report on Thursday, January 8th. Finally, Citigroup reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.00.

Coca-Cola Europacific Partners Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.