Royal Bank of Canada Sells 302,460 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Royal Bank of Canada reduced its Coca-Cola Europacific Partners stake by 20.5% in the first quarter, selling 302,460 shares and retaining 1.17 million shares worth approximately $106.4 million.
• Other institutional investors adjusted their positions, while institutions collectively own 31.35% of CCEP.
• CCEP shares opened at $109.46, down 2.0%, but analyst sentiment remains positive: eight analysts rate it Buy and three Hold, producing a consensus “Moderate Buy” rating with a $107.88 price target.

Royal Bank of Canada lessened its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 20.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,173,100 shares of the company's stock after selling 302,460 shares during the period. Royal Bank of Canada owned approximately 0.25% of Coca-Cola Europacific Partners worth $106,364,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CCEP. Bayban purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC grew its position in Coca-Cola Europacific Partners by 407.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company's stock worth $32,000 after acquiring an additional 285 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Coca-Cola Europacific Partners by 1,537.5% in the first quarter. Whipplewood Advisors LLC now owns 393 shares of the company's stock valued at $36,000 after acquiring an additional 369 shares during the last quarter. Quarry LP increased its stake in Coca-Cola Europacific Partners by 59.1% in the fourth quarter. Quarry LP now owns 393 shares of the company's stock valued at $36,000 after acquiring an additional 146 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in Coca-Cola Europacific Partners during the fourth quarter valued at about $38,000. Institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Down 2.0%

NASDAQ CCEP opened at $109.46 on Friday. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $113.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. The stock has a 50-day moving average of $101.05 and a 200-day moving average of $97.81.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CCEP. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. UBS Group increased their price target on shares of 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. Weiss Ratings downgraded shares of Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Barclays boosted their price objective on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price objective on shares of Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.88.

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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