UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Trims Stock Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• UBS AM reduced its stake in Coca-Cola Europacific Partners by 4.8%, now holding approximately 2.36 million shares valued at $205.18 million.
• Other institutional investors have varied their holdings, with Assetmark Inc. increasing its stake by 107.3% during the same period.
• Coca-Cola Europacific Partners has an average analyst rating of "Moderate Buy" with a projected price target around $92.40, despite some mixed ratings from major firms.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,357,593 shares of the company's stock after selling 119,213 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.51% of Coca-Cola Europacific Partners worth $205,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Axiom Investors LLC DE lifted its position in Coca-Cola Europacific Partners by 48.5% in the 1st quarter. Axiom Investors LLC DE now owns 166,475 shares of the company's stock worth $14,488,000 after buying an additional 54,350 shares during the last quarter. United Services Automobile Association bought a new stake in Coca-Cola Europacific Partners in the 1st quarter worth approximately $605,000. Goldman Sachs Group Inc. lifted its position in Coca-Cola Europacific Partners by 24.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company's stock worth $540,050,000 after buying an additional 1,214,493 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in Coca-Cola Europacific Partners by 13.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 81,468 shares of the company's stock worth $7,090,000 after buying an additional 9,738 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Coca-Cola Europacific Partners by 11.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 305,684 shares of the company's stock valued at $26,604,000 after purchasing an additional 31,980 shares during the last quarter. Institutional investors own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

CCEP has been the subject of several recent research reports. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Barclays lowered their price objective on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Finally, UBS Group boosted their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and an average target price of $92.40.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP traded down $0.35 during mid-day trading on Friday, hitting $89.71. 1,128,912 shares of the company's stock traded hands, compared to its average volume of 1,989,480. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. The business's 50-day moving average price is $93.40 and its 200-day moving average price is $90.22.

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.