Epoch Investment Partners Inc. Sells 315,108 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Epoch Investment Partners Inc. has reduced its holdings in Coca-Cola Europacific Partners by 14.2%, selling 315,108 shares and now owning approximately 1.9 million shares.
• Several institutional investors have increased their stakes in the company, with Caisse DE Depot ET Placement DU Quebec raising its position by 45.7% and Synovus Financial Corp increasing theirs by 178.8%.
• Currently, Coca-Cola Europacific Partners has a market capitalization of $41.32 billion and an average target price of $90.43, reflecting a consensus rating of "Moderate Buy."

Epoch Investment Partners Inc. lessened its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,898,489 shares of the company's stock after selling 315,108 shares during the quarter. Coca-Cola Europacific Partners comprises approximately 0.9% of Epoch Investment Partners Inc.'s holdings, making the stock its 29th largest position. Epoch Investment Partners Inc. owned about 0.41% of Coca-Cola Europacific Partners worth $165,225,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Coca-Cola Europacific Partners by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company's stock valued at $57,185,000 after purchasing an additional 13,981 shares during the period. Siemens Fonds Invest GmbH grew its holdings in Coca-Cola Europacific Partners by 79.1% in the 4th quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company's stock valued at $1,246,000 after buying an additional 7,165 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Coca-Cola Europacific Partners by 52.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company's stock valued at $991,000 after buying an additional 3,893 shares during the last quarter. Cetera Investment Advisers grew its holdings in Coca-Cola Europacific Partners by 12.3% in the 4th quarter. Cetera Investment Advisers now owns 31,339 shares of the company's stock valued at $2,407,000 after buying an additional 3,435 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Coca-Cola Europacific Partners by 7.3% in the 4th quarter. Deutsche Bank AG now owns 1,689,202 shares of the company's stock valued at $129,748,000 after buying an additional 114,754 shares during the last quarter. Institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP traded up $0.30 during trading on Thursday, reaching $88.83. 1,374,065 shares of the company traded hands, compared to its average volume of 1,993,940. 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's 50 day moving average price is $94.35 and its two-hundred day moving average price is $89.91. The company has a market cap of $40.95 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.57 and a beta of 0.75. Coca-Cola Europacific Partners has a 1-year low of $73.40 and a 1-year high of $100.67.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CCEP shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Morgan Stanley lowered Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. UBS Group upped their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Barclays cut their price target on 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. Finally, Wall Street Zen cut Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and a consensus price target of $90.43.

About Coca-Cola Europacific Partners

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.