Ninety One UK Ltd Sells 3,804 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Ninety One UK Ltd has decreased its stake in Coca-Cola Europacific Partners by 0.3%, selling 3,804 shares, and now holds approximately 1.27 million shares valued at $118.1 million.
• Several institutional investors have recently altered their positions in CCEP, with notable increases from Versant Capital Management and GAMMA Investing, indicating heightened interest in the stock.
• Analysts are mixed on CCEP's outlook, with one strong buy, four buys, and a downgrade from "overweight" to "equal weight" by Morgan Stanley, while UBS Group raised their price target from $100 to $105.

Ninety One UK Ltd reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,273,571 shares of the company's stock after selling 3,804 shares during the period. Ninety One UK Ltd owned 0.28% of Coca-Cola Europacific Partners worth $118,086,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CCEP. Versant Capital Management Inc boosted its position in shares of Coca-Cola Europacific Partners by 395.3% in the 1st quarter. Versant Capital Management Inc now owns 1,486 shares of the company's stock worth $129,000 after purchasing an additional 1,186 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Coca-Cola Europacific Partners by 8,438.0% in the 1st quarter. GAMMA Investing LLC now owns 44,995 shares of the company's stock worth $3,916,000 after purchasing an additional 44,468 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth $28,000. Merit Financial Group LLC bought a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth $206,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Coca-Cola Europacific Partners by 3.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 15,974 shares of the company's stock worth $1,390,000 after purchasing an additional 466 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. 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 research note on Wednesday, July 2nd. Barclays dropped their price objective on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $92.40.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $90.41 on Wednesday. The business's 50-day moving average price is $91.80 and its two-hundred day moving average price is $90.66. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. The company has a market capitalization of $41.67 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.60 and a beta of 0.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65.

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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