Coca-Cola Europacific Partners $CCEP Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Coca-Cola Europacific Partners by 2.1%, selling 16,604 shares during the second quarter, bringing its total ownership to 763,875 shares.
• Vanguard Group Inc. significantly increased its holdings by 462.7% during the first quarter, now owning 9,883,600 shares valued at approximately $862 million.
• The stock currently has a market capitalization of $40.92 billion and a consensus target price of $92.40 from analysts, with five rating it a "Buy" and three as "Hold".

TD Asset Management Inc trimmed its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 763,875 shares of the company's stock after selling 16,604 shares during the period. TD Asset Management Inc owned 0.17% of Coca-Cola Europacific Partners worth $70,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 worth $862,167,000 after purchasing an additional 8,126,996 shares during the period. Nuveen LLC acquired a new stake in Coca-Cola Europacific Partners during the 1st quarter valued at approximately $162,036,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 253.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock valued at $169,537,000 after acquiring an additional 1,397,394 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 24.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company's stock valued at $540,050,000 after acquiring an additional 1,214,493 shares during the last quarter. Finally, AGF Management Ltd. increased its stake in shares of Coca-Cola Europacific Partners by 13,956.3% in the first quarter. AGF Management Ltd. now owns 595,143 shares of the company's stock worth $51,795,000 after acquiring an additional 590,909 shares during the period. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP opened at $88.78 on Thursday. 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 $40.92 billion, a PE ratio of 18.27, a P/E/G ratio of 2.52 and a beta of 0.77. Coca-Cola Europacific Partners has a fifty-two week low of $73.40 and a fifty-two week high of $100.67. The company has a fifty day moving average of $89.64 and a two-hundred day moving average of $90.86.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. UBS Group raised their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Coca-Cola Europacific Partners in a research note on Wednesday, October 8th. Finally, 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 report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.

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