Coca-Cola Europacific Partners $CCEP Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its stake in Coca‑Cola Europacific Partners by 9.8% in Q3, selling 18,460 shares and leaving 169,934 shares valued at about $15.38 million.
• Several analysts have raised price targets and maintained positive ratings—UBS $118, Goldman Sachs $110, Evercore $112, Barclays $111—resulting in a consensus "Moderate Buy" and an average price target of $107.71.

Korea Investment CORP lowered its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 9.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 169,934 shares of the company's stock after selling 18,460 shares during the period. Korea Investment CORP's holdings in Coca-Cola Europacific Partners were worth $15,382,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in shares of Coca-Cola Europacific Partners during the 3rd quarter worth $31,000. First Command Advisory Services Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 1,800.0% in the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company's stock valued at $33,000 after purchasing an additional 342 shares during the period. First Horizon Advisors Inc. increased its position in Coca-Cola Europacific Partners by 61.3% during the second quarter. First Horizon Advisors Inc. now owns 363 shares of the company's stock worth $34,000 after purchasing an additional 138 shares during the last quarter. Westerkirk Capital Inc. acquired a new stake in Coca-Cola Europacific Partners during the second quarter worth about $37,000. Finally, MAI Capital Management raised its stake in Coca-Cola Europacific Partners by 113.4% during the second quarter. MAI Capital Management now owns 414 shares of the company's stock worth $38,000 after purchasing an additional 220 shares during the period. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $101.72 on Wednesday. The company's 50 day simple moving average is $95.98 and its 200-day simple moving average is $92.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. Coca-Cola Europacific Partners has a 1 year low of $80.70 and a 1 year high of $110.90.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group boosted their target price 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. The Goldman Sachs Group lifted their price target on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, February 18th. Evercore reiterated an "outperform" rating and issued a $112.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Barclays increased their price objective on Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the stock an "overweight" rating in a research report on Thursday, February 19th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and an average price target of $107.71.

About Coca-Cola Europacific Partners

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.

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