Diversified Trust Co Cuts Stock Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• Diversified Trust Co reduced its holdings in Coca-Cola Europacific Partners by 24.3%, selling 12,922 shares and leaving them with 40,241 shares valued at $3,731,000.
• In the fourth quarter, various institutional investors modified their positions in Coca-Cola Europacific Partners, with Focus Partners Wealth acquiring a new stake worth around $215,000.
• Analysts have set a consensus target price of $92.40 for CCEP, with ratings varying from "Strong Buy" to "Sell" among research firms.

Diversified Trust Co reduced its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 24.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,241 shares of the company's stock after selling 12,922 shares during the period. Diversified Trust Co's holdings in Coca-Cola Europacific Partners were worth $3,731,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CCEP. Focus Partners Wealth bought a new position in Coca-Cola Europacific Partners in the fourth quarter worth about $215,000. Vise Technologies Inc. increased its position in shares of Coca-Cola Europacific Partners by 37.9% during the fourth quarter. Vise Technologies Inc. now owns 4,894 shares of the company's stock valued at $376,000 after acquiring an additional 1,346 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $6,702,000. Mackenzie Financial Corp increased its position in shares of Coca-Cola Europacific Partners by 10.4% during the fourth quarter. Mackenzie Financial Corp now owns 270,162 shares of the company's stock valued at $20,751,000 after acquiring an additional 25,560 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $4,857,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ:CCEP opened at $89.94 on Friday. The company has a market capitalization of $41.46 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.61 and a beta of 0.78. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67. The firm's 50-day moving average is $92.75 and its 200 day moving average is $90.34. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CCEP shares. UBS Group raised their target price 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. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Barclays lowered their target price 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. Wall Street Zen cut 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 cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of "Moderate Buy" 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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