Natixis Advisors LLC Decreases Stock Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Natixis Advisors LLC reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 10.2%, selling 30,526 shares, and now holds approximately 269,351 shares worth $23.4 million.
• Other institutional investors have adjusted their positions, with Invesco Ltd. increasing its holdings by 26.3% to 10.1 million shares valued at $777.3 million.
• Analysts have mixed views on CCEP, with one brokerage downgrading its rating to "hold," while others maintain a "buy" rating with a target price increase to $105.00.

Natixis Advisors LLC cut its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 269,351 shares of the company's stock after selling 30,526 shares during the quarter. Natixis Advisors LLC owned 0.06% of Coca-Cola Europacific Partners worth $23,442,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CCEP. Assetmark Inc. increased its position in Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after buying an additional 147 shares during the period. NBC Securities Inc. bought a new stake in Coca-Cola Europacific Partners in the first quarter valued at about $28,000. Cullen Frost Bankers Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 204.2% in the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after acquiring an additional 245 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth about $29,000. Finally, HM Payson & Co. acquired a new position in shares of Coca-Cola Europacific Partners during the first quarter worth about $33,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CCEP. Barclays reissued an "overweight" rating and set a $104.00 price target (up from $101.00) on shares of Coca-Cola Europacific Partners in a research report on Tuesday, July 15th. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, UBS Group raised their price objective 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.57.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock traded up $0.61 during mid-day trading on Monday, hitting $97.88. The company's stock had a trading volume of 1,944,765 shares, compared to its average volume of 1,584,195. Coca-Cola Europacific Partners has a 52 week low of $71.49 and a 52 week high of $100.67. The company's fifty day simple moving average is $94.28 and its 200-day simple moving average is $88.25. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81.

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.