US Bancorp DE Decreases Stock Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• US Bancorp DE reduced its holdings in Coca-Cola Europacific Partners by 16.5%, selling 12,103 shares and now owning 61,398 shares valued at approximately $5.7 million.
• Several institutional investors have increased their positions in Coca-Cola Europacific Partners, with notable increases of 107.3% by Assetmark Inc. and 204.2% by Cullen Frost Bankers Inc.
• Analysts are optimistic about Coca-Cola Europacific Partners, with UBS Group raising its price target from $100 to $105 and several firms maintaining a "buy" rating on the stock.

US Bancorp DE decreased its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 16.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,398 shares of the company's stock after selling 12,103 shares during the period. US Bancorp DE's holdings in Coca-Cola Europacific Partners were worth $5,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CCEP. Assetmark Inc. lifted its position in shares of Coca-Cola Europacific Partners by 107.3% during the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after buying an additional 147 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Coca-Cola Europacific Partners by 204.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after buying an additional 245 shares in the last quarter. HM Payson & Co. purchased a new position in Coca-Cola Europacific Partners in the 1st quarter valued at $33,000. Motco lifted its holdings in Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company's stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Finally, Quarry LP lifted its holdings in Coca-Cola Europacific Partners by 115.8% in the 1st quarter. Quarry LP now owns 436 shares of the company's stock valued at $38,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Up 0.3%

Shares of CCEP opened at $87.90 on Monday. Coca-Cola Europacific Partners has a 52-week low of $73.40 and a 52-week high of $100.67. The company has a market capitalization of $40.52 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.47 and a beta of 0.76. The stock has a fifty day simple moving average of $90.06 and a two-hundred day simple moving average of $90.87. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15.

Analysts Set New Price Targets

A number of brokerages have weighed in on CCEP. UBS Group raised their price objective on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Weiss Ratings restated a "buy (b+)" rating on shares of Coca-Cola Europacific Partners in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Barclays decreased their price objective on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Morgan Stanley lowered Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Coca-Cola Europacific Partners currently has an average rating of "Hold" and an average target price of $92.40.

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.

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