M&G PLC Has $7.36 Million Holdings in Coca-Cola Europacific Partners $CCEP

M&G PLC trimmed its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 8.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 81,797 shares of the company’s stock after selling 7,781 shares during the period. M&G PLC’s holdings in Coca-Cola Europacific Partners were worth $7,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp raised its stake in Coca-Cola Europacific Partners by 10,480.7% in the 3rd quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after acquiring an additional 4,711,093 shares during the period. Norges Bank acquired a new position in shares of Coca-Cola Europacific Partners in the second quarter valued at $381,335,000. Massachusetts Financial Services Co. MA raised its position in shares of Coca-Cola Europacific Partners by 138.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock valued at $527,595,000 after purchasing an additional 3,392,680 shares during the period. Bessemer Group Inc. lifted its stake in shares of Coca-Cola Europacific Partners by 12,873.0% during the 3rd quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock worth $229,428,000 after buying an additional 2,518,085 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Coca-Cola Europacific Partners by 14.7% during the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock worth $1,099,562,000 after buying an additional 1,523,055 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CCEP. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, January 9th. UBS Group decreased their target price on Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Barclays reissued an “overweight” rating and set a $101.00 price target on shares of Coca-Cola Europacific Partners in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Coca-Cola Europacific Partners in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and a consensus target price of $100.80.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $99.51 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The stock’s fifty day moving average price is $91.50 and its two-hundred day moving average price is $90.73. Coca-Cola Europacific Partners has a one year low of $80.70 and a one year high of $100.67.

Coca-Cola Europacific Partners Company Profile

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.