William Blair Investment Management LLC Decreases Holdings in Coca-Cola Europacific Partners $CCEP

William Blair Investment Management LLC lowered its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 3.7% during the third quarter, HoldingsChannel.com reports. The fund owned 492,244 shares of the company’s stock after selling 19,031 shares during the quarter. William Blair Investment Management LLC’s holdings in Coca-Cola Europacific Partners were worth $44,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Coca-Cola Europacific Partners by 10.5% in the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock valued at $621,000 after buying an additional 677 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Coca-Cola Europacific Partners by 23.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after acquiring an additional 156 shares in the last quarter. CWM LLC grew its position in shares of Coca-Cola Europacific Partners by 13.3% in the second quarter. CWM LLC now owns 1,136 shares of the company’s stock valued at $105,000 after purchasing an additional 133 shares during the last quarter. Assetmark Inc. increased its stake in shares of Coca-Cola Europacific Partners by 110.2% during the 2nd quarter. Assetmark Inc. now owns 597 shares of the company’s stock worth $55,000 after purchasing an additional 313 shares in the last quarter. Finally, TIAA Trust National Association raised its position in shares of Coca-Cola Europacific Partners by 3.2% during the 2nd quarter. TIAA Trust National Association now owns 3,345 shares of the company’s stock worth $310,000 after purchasing an additional 103 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock opened at $110.43 on Monday. The firm’s 50-day simple moving average is $94.34 and its 200-day simple moving average is $91.50. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a 1-year low of $80.70 and a 1-year high of $110.90.

Wall Street Analysts Forecast Growth

CCEP has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Barclays boosted their target price on shares of Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. UBS Group lifted their price target on shares of Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Finally, Evercore reissued an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and a consensus price target of $107.71.

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.