HighTower Advisors LLC Has $3.22 Million Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• HighTower Advisors LLC reduced its stake in Coca-Cola Europacific Partners by 9.1%, holding 37,016 shares valued at approximately $3.22 million at the end of the first quarter.
• Institutional investors own 31.35% of Coca-Cola Europacific Partners stock, with several firms, including Assetmark Inc. and Cullen Frost Bankers Inc., increasing their holdings during the same period.
• Coca-Cola Europacific Partners' stock has been recently downgraded by some analysts, while others maintain a 'buy' rating, highlighting a consensus target price of $90.43.

HighTower Advisors LLC cut its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 9.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,016 shares of the company's stock after selling 3,685 shares during the quarter. HighTower Advisors LLC's holdings in Coca-Cola Europacific Partners were worth $3,222,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its position in Coca-Cola Europacific Partners by 107.3% during 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 period. NBC Securities Inc. acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter valued at about $28,000. Optiver Holding B.V. acquired a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at about $29,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 204.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after buying an additional 245 shares during the last quarter. Finally, HM Payson & Co. acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter valued at about $33,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Down 1.4%

Shares of CCEP stock opened at $91.19 on Friday. The stock's 50 day simple moving average is $94.68 and its 200 day simple moving average is $89.57. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67. The company has a market capitalization of $42.03 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.69 and a beta of 0.75.

Wall Street Analysts Forecast Growth

CCEP has been the subject of several research reports. Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. 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 lifted 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. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Finally, Barclays reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.

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