J. Safra Sarasin Holding AG Reduces Stock Position in Coca-Cola Europacific Partners $CCEP

Key Points

• J. Safra Sarasin Holding AG has decreased its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 3.9%, owning 120,745 shares worth approximately $11.2 million after selling 4,891 shares in the second quarter.
• ASR Vermogensbeheer N.V. and other institutional investors have increased their positions in Coca-Cola Europacific Partners, with ASR raising its stake by 15.7%.
• Coca-Cola Europacific Partners shares are currently trading at $87.83, with a 52-week range between $73.40 and $100.67, following a recent 2.4% decline in stock price.

J. Safra Sarasin Holding AG lessened its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,745 shares of the company's stock after selling 4,891 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Coca-Cola Europacific Partners were worth $11,195,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. ASR Vermogensbeheer N.V. increased its stake in Coca-Cola Europacific Partners by 15.7% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 9,595 shares of the company's stock worth $890,000 after buying an additional 1,300 shares during the period. Capital Investment Advisors LLC purchased a new position in shares of Coca-Cola Europacific Partners during the second quarter worth approximately $315,000. Janney Montgomery Scott LLC increased its position in shares of Coca-Cola Europacific Partners by 5.3% during the second quarter. Janney Montgomery Scott LLC now owns 11,840 shares of the company's stock worth $1,098,000 after acquiring an additional 597 shares during the period. Exane Asset Management raised its stake in shares of Coca-Cola Europacific Partners by 17.1% during the second quarter. Exane Asset Management now owns 264,247 shares of the company's stock valued at $24,247,000 after acquiring an additional 38,592 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 2.9% in the second quarter. Signaturefd LLC now owns 6,632 shares of the company's stock valued at $615,000 after purchasing an additional 189 shares during the period. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Stock Down 2.4%

Shares of Coca-Cola Europacific Partners stock opened at $87.83 on Friday. The firm's 50 day moving average price is $91.35 and its 200-day moving average price is $90.68. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a 52-week low of $73.40 and a 52-week high of $100.67. The company has a market cap of $40.49 billion, a P/E ratio of 18.07, a PEG ratio of 2.53 and a beta of 0.76.

Analyst Upgrades and Downgrades

Several research analysts have commented on CCEP shares. UBS Group raised their price objective on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. 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. 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 shares of 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. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has a consensus rating of "Hold" and a consensus 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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