Twin Tree Management LP Decreases Stake in Coca-Cola Europacific Partners $CCEP

Key Points

• Twin Tree Management LP has significantly reduced its holdings in Coca-Cola Europacific Partners by 44.4%, now owning 17,846 shares valued at approximately $1.55 million.
• Several other hedge funds have made adjustments to their positions, with Assetmark Inc. increasing its stake by 107.3%, now owning 284 shares.
• The stock currently has a market capitalization of $40.96 billion, with analysts assigning an average rating of "Moderate Buy" and a price target of $90.43.

Twin Tree Management LP decreased its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 44.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,846 shares of the company's stock after selling 14,241 shares during the quarter. Twin Tree Management LP's holdings in Coca-Cola Europacific Partners were worth $1,553,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its stake in 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 position in shares of Coca-Cola Europacific Partners in the first quarter worth $28,000. Cullen Frost Bankers Inc. raised its stake in shares of Coca-Cola Europacific Partners by 204.2% in the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after purchasing an additional 245 shares during the last quarter. HM Payson & Co. purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter worth $33,000. Finally, Motco raised its stake in shares of Coca-Cola Europacific Partners by 285.7% in the first quarter. Motco now owns 405 shares of the company's stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group boosted their price target 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. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Barclays cut their price objective on 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 lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Morgan Stanley lowered Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.43.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP traded up $0.75 during mid-day trading on Thursday, reaching $87.42. The company's stock had a trading volume of 1,469,136 shares, compared to its average volume of 2,118,830. The firm has a market capitalization of $40.30 billion, a PE ratio of 17.99, a P/E/G ratio of 2.58 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. The stock has a fifty day moving average of $93.99 and a two-hundred day moving average of $90.06. Coca-Cola Europacific Partners has a 52 week low of $73.40 and a 52 week high of $100.67.

Coca-Cola Europacific Partners Company 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.