Pacer Advisors Inc. Sells 17,967 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Pacer Advisors cut its Coca-Cola Europacific Partners stake by 51.1% in the first quarter, selling 17,967 shares and retaining 17,179 shares valued at approximately $1.56 million.
• Other institutional investors increased or initiated positions, with institutional investors and hedge funds collectively owning 31.35% of CCEP.
• Wall Street remains broadly positive: eight analysts rate CCEP a Buy and three a Hold, producing a “Moderate Buy” consensus and an average price target of $108.78.

Pacer Advisors Inc. cut its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 51.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,179 shares of the company's stock after selling 17,967 shares during the quarter. Pacer Advisors Inc.'s holdings in Coca-Cola Europacific Partners were worth $1,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bayban acquired a new position in Coca-Cola Europacific Partners during the 4th quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Coca-Cola Europacific Partners by 407.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company's stock worth $32,000 after purchasing an additional 285 shares during the period. Whipplewood Advisors LLC increased its holdings in shares of Coca-Cola Europacific Partners by 1,537.5% during the 1st quarter. Whipplewood Advisors LLC now owns 393 shares of the company's stock worth $36,000 after purchasing an additional 369 shares during the period. Quarry LP raised its position in shares of Coca-Cola Europacific Partners by 59.1% during the fourth quarter. Quarry LP now owns 393 shares of the company's stock valued at $36,000 after buying an additional 146 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several research reports. Barclays boosted their price target on Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. UBS Group boosted their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Finally, Weiss Ratings lowered shares of Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $108.78.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $108.29 on Friday. The business has a fifty day moving average of $102.53 and a two-hundred day moving average of $98.47. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $113.67. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.60.

About Coca-Cola Europacific Partners

• Why Chemours Co NYSE: CC Stock is the Recipe for Gains

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.

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