UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Decreases Stock Position 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 lowered its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.51% of Coca-Cola Europacific Partners worth $205,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CCEP. Assetmark Inc. boosted its stake in Coca-Cola Europacific Partners by 107.3% in the first quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after buying an additional 147 shares in the last quarter. NBC Securities Inc. purchased a new stake in Coca-Cola Europacific Partners in the first quarter worth $28,000. Cullen Frost Bankers Inc. lifted its stake in 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 acquiring an additional 245 shares during the period. HM Payson & Co. purchased a new stake in Coca-Cola Europacific Partners in the first quarter worth $33,000. Finally, Motco lifted its position in 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 period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

CCEP has been the subject of several recent research reports. 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. Wall Street Zen downgraded 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. UBS Group boosted their price target 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. Finally, Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.40.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP traded up $1.77 during trading hours on Wednesday, reaching $90.53. The company's stock had a trading volume of 399,175 shares, compared to its average volume of 2,127,906. The firm's 50-day moving average price is $93.10 and its 200-day moving average price is $90.25. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. The company has a market capitalization of $41.73 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.57 and a beta of 0.78.

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.