Croban Decreases Stock Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Croban has significantly reduced its stock position in Coca-Cola Europacific Partners by 78.4% in Q2, now holding only 3,291 shares valued at approximately $305,000.
• During the same period, several other hedge funds also modified their stakes in the company, with Assetmark Inc. increasing its holdings by 107.3%.
• Analysts' ratings for Coca-Cola Europacific Partners vary, with five rating it as a Buy, while one has given it a Sell rating, reflecting mixed outlooks on the stock's performance.

Croban reduced its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 78.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,291 shares of the company's stock after selling 11,936 shares during the period. Croban's holdings in Coca-Cola Europacific Partners were worth $305,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings 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 during the last quarter. NBC Securities Inc. purchased a new position in Coca-Cola Europacific Partners in the 1st quarter worth approximately $28,000. Cullen Frost Bankers Inc. raised its holdings in Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after acquiring an additional 245 shares during the last quarter. HM Payson & Co. purchased a new position in Coca-Cola Europacific Partners in the 1st quarter worth approximately $33,000. Finally, Motco raised its holdings in Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company's stock worth $35,000 after acquiring an additional 300 shares during the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Up 0.3%

NASDAQ:CCEP opened at $87.90 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. The firm has a market capitalization of $40.52 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.46 and a beta of 0.77. Coca-Cola Europacific Partners has a one year low of $73.40 and a one year high of $100.67. The business has a fifty day moving average price of $90.06 and a 200-day moving average price of $90.80.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Weiss Ratings reiterated a "buy (b+)" rating on shares of Coca-Cola Europacific Partners in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" 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.

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