USS Investment Management Ltd Sells 40,200 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• USS Investment Management Ltd reduced its stake in Coca-Cola Europacific Partners by 46.8%, selling 40,200 shares, leaving them with a total of 45,723 shares valued at approximately $3.98 million.
• Recent analyst ratings for Coca-Cola Europacific Partners include a mix of upgrades and downgrades, with the stock currently holding an average rating of "Moderate Buy" and an average price target of $90.50.
• The company's stock has shown stability with a market cap of $41.54 billion, having fluctuated between a 1-year low of $73.40 and a high of $100.67.

USS Investment Management Ltd reduced its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 46.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,723 shares of the company's stock after selling 40,200 shares during the period. USS Investment Management Ltd's holdings in Coca-Cola Europacific Partners were worth $3,978,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. increased its position in Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after purchasing an additional 147 shares during the last quarter. NBC Securities Inc. acquired a new position in Coca-Cola Europacific Partners in the 1st quarter worth about $28,000. Cullen Frost Bankers Inc. increased its position in Coca-Cola Europacific Partners by 204.2% in the 1st 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. acquired a new position in Coca-Cola Europacific Partners in the 1st quarter worth about $33,000. Finally, Motco increased its position in Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company's stock worth $35,000 after purchasing an additional 300 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCEP has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Barclays decreased their price target on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. UBS Group upped 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. 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 research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $92.40.

Coca-Cola Europacific Partners Stock Performance

NASDAQ: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 firm has a 50 day moving average of $93.40 and a two-hundred day moving average of $90.25. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67. The firm has a market capitalization of $41.35 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.60 and a beta of 0.78. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

Coca-Cola Europacific Partners 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.