Coca-Cola Europacific Partners $CCEP Shares Sold by State of Wyoming

Key Points

• The State of Wyoming has significantly reduced its holdings in Coca-Cola Europacific Partners by 78.4%, now owning only 1,660 shares worth $144,000 following the sale of 6,026 shares in the 1st quarter.
• Meanwhile, several institutional investors, including Vanguard Group Inc. and Invesco Ltd., have increased their positions in the company significantly, with Vanguard boosting its stake by 462.7%.
• Coca-Cola Europacific Partners reported a 1.7% increase in share price, with analysts currently providing a consensus target price of $90.43 for the stock.

State of Wyoming reduced its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 78.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,660 shares of the company's stock after selling 6,026 shares during the quarter. State of Wyoming's holdings in Coca-Cola Europacific Partners were worth $144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCEP. Private Trust Co. NA grew its stake in Coca-Cola Europacific Partners by 6.0% in the 1st quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock worth $176,000 after acquiring an additional 115 shares in the last quarter. BKM Wealth Management LLC grew its stake in Coca-Cola Europacific Partners by 1.6% in the 1st quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock worth $682,000 after acquiring an additional 124 shares in the last quarter. Assetmark Inc. grew its stake in Coca-Cola Europacific Partners by 107.3% in 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. RWA Wealth Partners LLC grew its stake in Coca-Cola Europacific Partners by 0.3% in the 1st quarter. RWA Wealth Partners LLC now owns 53,905 shares of the company's stock worth $4,691,000 after acquiring an additional 149 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Coca-Cola Europacific Partners by 2.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,177 shares of the company's stock valued at $538,000 after purchasing an additional 150 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Up 1.4%

NASDAQ:CCEP traded up $1.24 during midday trading on Thursday, reaching $90.06. 1,500,655 shares of the stock traded hands, compared to its average volume of 2,045,446. Coca-Cola Europacific Partners has a 12-month low of $73.40 and a 12-month high of $100.67. The business has a 50-day moving average of $93.55 and a two-hundred day moving average of $90.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The stock has a market capitalization of $41.51 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CCEP shares. Morgan Stanley downgraded shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. UBS Group increased their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Barclays dropped their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. 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 given a Sell rating to the stock. According to MarketBeat, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and an average price target of $92.40.

Coca-Cola Europacific Partners 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.