Federated Hermes Inc. Decreases Stake in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Federated Hermes Inc. trimmed its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,841 shares of the company's stock after selling 4,229 shares during the quarter. Federated Hermes Inc.'s holdings in Coca-Cola Europacific Partners were worth $3,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock valued at $777,312,000 after buying an additional 2,105,019 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 253.8% during the first 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. Barclays PLC increased its holdings in shares of Coca-Cola Europacific Partners by 236.4% in the fourth quarter. Barclays PLC now owns 1,804,855 shares of the company's stock valued at $138,631,000 after purchasing an additional 1,268,401 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Coca-Cola Europacific Partners by 842.4% in the fourth quarter. Jane Street Group LLC now owns 714,988 shares of the company's stock valued at $54,918,000 after purchasing an additional 639,119 shares during the last quarter. Finally, Northern Trust Corp grew its position in Coca-Cola Europacific Partners by 56.3% in the fourth quarter. Northern Trust Corp now owns 1,542,368 shares of the company's stock worth $118,469,000 after acquiring an additional 555,388 shares during the period. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CCEP. Barclays restated an "overweight" rating and set a $104.00 price target (up from $101.00) on shares of Coca-Cola Europacific Partners in a research report on Tuesday, July 15th. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, UBS Group boosted their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.57.

Coca-Cola Europacific Partners Trading Up 0.5%

Shares of NASDAQ:CCEP traded up $0.45 during trading on Tuesday, reaching $98.33. 1,877,762 shares of the stock were exchanged, compared to its average volume of 1,571,014. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $100.67. The firm has a market cap of $45.33 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 2.56 and a beta of 0.75. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81. The firm's 50-day moving average price is $94.45 and its 200 day moving average price is $88.39.

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.