Sumitomo Mitsui Trust Group Inc. Trims Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its CCEP stake by 9.1% in the fourth quarter, selling 199,192 shares and leaving 1,990,763 shares worth $180,562,000 (about 0.43% ownership).
• Other institutions were active too — AQR increased its position by 10.5%, Marshall Wace and WINTON opened new positions, and hedge funds/institutional investors now own 31.35% of the stock.
• Analysts are mostly positive with a consensus rating of "Moderate Buy" (seven Buys, three Holds) and an average target of $107.71, while CCEP trades around $97.43 within a 52‑week range of $84.65–$110.90.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,990,763 shares of the company's stock after selling 199,192 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.43% of Coca-Cola Europacific Partners worth $180,562,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CCEP. AQR Capital Management LLC increased its position in Coca-Cola Europacific Partners by 10.5% during the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company's stock valued at $621,000 after purchasing an additional 677 shares during the period. Geneos Wealth Management Inc. increased its position in Coca-Cola Europacific Partners by 23.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company's stock valued at $70,000 after purchasing an additional 156 shares during the period. Marshall Wace LLP purchased a new position in Coca-Cola Europacific Partners during the 2nd quarter valued at about $653,000. Jump Financial LLC increased its position in Coca-Cola Europacific Partners by 18.8% during the 2nd quarter. Jump Financial LLC now owns 25,666 shares of the company's stock valued at $2,380,000 after purchasing an additional 4,059 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in Coca-Cola Europacific Partners during the 2nd quarter valued at about $202,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Citigroup reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Evercore reissued an "outperform" rating and set a $112.00 target price on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and a consensus target price of $107.71.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP opened at $97.43 on Monday. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The company's 50-day simple moving average is $98.68 and its 200-day simple moving average is $93.09.

About Coca-Cola Europacific Partners

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.

Want to see what other hedge funds are holding CCEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.