Prudential PLC Trims Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Prudential PLC reduced its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,279 shares of the company's stock after selling 12,530 shares during the quarter. Prudential PLC's holdings in Coca-Cola Europacific Partners were worth $3,478,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC grew its holdings in Coca-Cola Europacific Partners by 0.4% in the third quarter. HighTower Advisors LLC now owns 41,187 shares of the company's stock valued at $3,242,000 after purchasing an additional 177 shares during the period. IHT Wealth Management LLC grew its stake in Coca-Cola Europacific Partners by 43.9% in the 3rd quarter. IHT Wealth Management LLC now owns 4,041 shares of the company's stock valued at $317,000 after acquiring an additional 1,232 shares during the period. Parallax Volatility Advisers L.P. purchased a new stake in Coca-Cola Europacific Partners in the 3rd quarter worth $283,000. Royal London Asset Management Ltd. raised its position in Coca-Cola Europacific Partners by 7.4% during the third quarter. Royal London Asset Management Ltd. now owns 192,088 shares of the company's stock worth $15,127,000 after acquiring an additional 13,300 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in Coca-Cola Europacific Partners by 15.8% during the third quarter. Quantinno Capital Management LP now owns 29,577 shares of the company's stock valued at $2,329,000 after purchasing an additional 4,034 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on CCEP shares. Evercore ISI boosted their target price on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Kepler Capital Markets lowered Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. UBS Group raised their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Finally, Barclays boosted their price target on Coca-Cola Europacific Partners from $99.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and an average target price of $87.13.

Coca-Cola Europacific Partners Trading Up 1.9 %

Shares of CCEP stock traded up $1.61 on Friday, hitting $86.60. 2,756,288 shares of the stock traded hands, compared to its average volume of 1,687,449. Coca-Cola Europacific Partners PLC has a twelve month low of $65.94 and a twelve month high of $91.29. The stock has a market capitalization of $39.92 billion, a PE ratio of 17.82, a PEG ratio of 4.89 and a beta of 0.73. The firm's 50-day moving average price is $84.58 and its two-hundred day moving average price is $79.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81.

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.