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Legacy Wealth Asset Management LLC Trims Holdings in Coca-Cola Europacific Partners $CCEP

Coca-Cola Europacific Partners logo with Consumer Staples background

Key Points

  • Legacy Wealth Asset Management LLC has reduced its holdings in Coca-Cola Europacific Partners by 12.3%, now owning 25,642 shares valued at approximately $2.38 million.
  • Several institutional investors have increased their stakes in Coca-Cola Europacific Partners, with China Universal Asset Management growing its position by 52.0%.
  • Analyst ratings for Coca-Cola Europacific Partners have been mixed, with five analysts
  • MarketBeat previews top five stocks to own in November.

Legacy Wealth Asset Management LLC cut its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 12.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,642 shares of the company's stock after selling 3,592 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Coca-Cola Europacific Partners were worth $2,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Coca-Cola Europacific Partners by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company's stock worth $57,185,000 after buying an additional 13,981 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Coca-Cola Europacific Partners by 52.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company's stock valued at $991,000 after purchasing an additional 3,893 shares during the last quarter. Nordea Investment Management AB grew its position in Coca-Cola Europacific Partners by 0.8% during the 2nd quarter. Nordea Investment Management AB now owns 1,239,257 shares of the company's stock valued at $113,999,000 after purchasing an additional 10,014 shares during the last quarter. Bessemer Group Inc. grew its position in Coca-Cola Europacific Partners by 3.1% during the 1st quarter. Bessemer Group Inc. now owns 20,141 shares of the company's stock valued at $1,753,000 after purchasing an additional 605 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in Coca-Cola Europacific Partners by 85.3% during the 1st quarter. Vontobel Holding Ltd. now owns 610,289 shares of the company's stock valued at $51,909,000 after purchasing an additional 280,867 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCEP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. 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. 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. UBS Group upped their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of Coca-Cola Europacific Partners in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $92.40.

Check Out Our Latest Stock Report on CCEP

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $90.78 on Tuesday. The firm's 50 day moving average price is $89.40 and its 200-day moving average price is $90.97. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $41.85 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76.

Coca-Cola Europacific Partners Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding CCEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report).

Institutional Ownership by Quarter for Coca-Cola Europacific Partners (NASDAQ:CCEP)

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