Coca-Cola Europacific Partners $CCEP Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 25.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,770 shares of the company’s stock after selling 67,874 shares during the quarter. Victory Capital Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $18,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CCEP. CI Investments Inc. raised its position in Coca-Cola Europacific Partners by 3.9% during the third quarter. CI Investments Inc. now owns 284,991 shares of the company’s stock worth $25,766,000 after acquiring an additional 10,601 shares during the period. Rafferty Asset Management LLC grew its position in shares of Coca-Cola Europacific Partners by 7.0% in the third quarter. Rafferty Asset Management LLC now owns 136,121 shares of the company’s stock valued at $12,307,000 after purchasing an additional 8,881 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Coca-Cola Europacific Partners by 1.8% during the third quarter. Handelsbanken Fonder AB now owns 235,533 shares of the company’s stock worth $21,295,000 after purchasing an additional 4,278 shares in the last quarter. Banco Santander S.A. purchased a new stake in shares of Coca-Cola Europacific Partners during the third quarter worth about $452,000. Finally, Xponance Inc. raised its position in shares of Coca-Cola Europacific Partners by 32.8% during the 3rd quarter. Xponance Inc. now owns 2,897 shares of the company’s stock worth $262,000 after purchasing an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CCEP shares. Evercore reaffirmed an “outperform” rating and issued a $112.00 price target on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. UBS Group increased their target price on Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. The Goldman Sachs Group raised their target price on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Bank of America reaffirmed a “neutral” rating and issued a $96.00 price target (down from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.71.

Coca-Cola Europacific Partners Stock Up 0.1%

Shares of CCEP stock opened at $101.72 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. The firm’s 50-day moving average is $95.98 and its two-hundred day moving average is $92.12. Coca-Cola Europacific Partners has a 12 month low of $80.70 and a 12 month high of $110.90.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.