Alliancebernstein L.P. Sells 23,512 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Alliancebernstein L.P. trimmed its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,425,759 shares of the company’s stock after selling 23,512 shares during the period. Alliancebernstein L.P. owned 0.31% of Coca-Cola Europacific Partners worth $109,513,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CCEP. SBI Securities Co. Ltd. bought a new position in Coca-Cola Europacific Partners in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Coca-Cola Europacific Partners by 85.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock worth $33,000 after acquiring an additional 197 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Coca-Cola Europacific Partners during the fourth quarter valued at approximately $34,000. Whipplewood Advisors LLC acquired a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $52,000. Finally, Blue Trust Inc. increased its position in shares of Coca-Cola Europacific Partners by 16.2% during the fourth quarter. Blue Trust Inc. now owns 1,189 shares of the company’s stock worth $94,000 after purchasing an additional 166 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Up 0.3 %

NASDAQ CCEP opened at $87.41 on Thursday. Coca-Cola Europacific Partners PLC has a 1 year low of $65.94 and a 1 year high of $88.39. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. The company has a market capitalization of $40.29 billion, a PE ratio of 17.99, a P/E/G ratio of 4.89 and a beta of 0.91. The company has a fifty day moving average of $83.36 and a 200 day moving average of $79.47.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CCEP. UBS Group boosted their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Evercore ISI boosted their price target on 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. Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Coca-Cola Europacific Partners Company 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.