Raymond James Financial Inc. Decreases Stake in Coca-Cola Europacific Partners $CCEP

Key Points

• Raymond James Financial Inc. has reduced its stake in Coca-Cola Europacific Partners by 5.5%, now owning 184,559 shares valued at approximately $16 million.
• Other institutional investors, such as the State of New Jersey Common Pension Fund D and Ethic Inc., have increased their stakes in the company during the same period.
• Recent analyst ratings have been mixed, with Morgan Stanley downgrading Coca-Cola Europacific Partners while UBS Group raised its target price, resulting in an average rating of "Moderate Buy" and a consensus price target of $90.43.

Raymond James Financial Inc. lessened its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,559 shares of the company's stock after selling 10,712 shares during the quarter. Raymond James Financial Inc.'s holdings in Coca-Cola Europacific Partners were worth $16,062,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Assetmark Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 107.3% during the first quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after buying an additional 147 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at $28,000. Cullen Frost Bankers Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 204.2% during the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after buying an additional 245 shares during the last quarter. HM Payson & Co. purchased a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at $33,000. Finally, Motco grew its holdings in shares of Coca-Cola Europacific Partners by 285.7% during the first quarter. Motco now owns 405 shares of the company's stock valued at $35,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CCEP shares. Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Barclays reduced their target price 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. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Finally, UBS Group upped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of "Moderate Buy" and an average target price of $90.43.

Coca-Cola Europacific Partners Trading Up 0.0%

Shares of NASDAQ CCEP traded up $0.03 during trading on Friday, hitting $88.86. The company had a trading volume of 1,581,790 shares, compared to its average volume of 1,974,300. The stock has a fifty day simple moving average of $94.27 and a two-hundred day simple moving average of $90.02. Coca-Cola Europacific Partners has a fifty-two week low of $73.40 and a fifty-two week 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.

About Coca-Cola Europacific Partners

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.