Coca-Cola Europacific Partners $CCEP Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 20.7% during the third quarter, HoldingsChannel.com reports. The fund owned 35,403 shares of the company’s stock after selling 9,234 shares during the period. Cannell & Spears LLC’s holdings in Coca-Cola Europacific Partners were worth $3,201,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Choreo LLC raised its stake in Coca-Cola Europacific Partners by 4.5% in the 2nd quarter. Choreo LLC now owns 2,733 shares of the company’s stock valued at $253,000 after purchasing an additional 118 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Coca-Cola Europacific Partners by 2.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,323 shares of the company’s stock worth $391,000 after purchasing an additional 123 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Coca-Cola Europacific Partners by 0.5% during the third quarter. Legacy Wealth Asset Management LLC now owns 25,773 shares of the company’s stock worth $2,330,000 after buying an additional 131 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Coca-Cola Europacific Partners by 8.7% during the third quarter. Versant Capital Management Inc now owns 1,658 shares of the company’s stock worth $150,000 after buying an additional 132 shares in the last quarter. Finally, Aviso Financial Inc. raised its position in shares of Coca-Cola Europacific Partners by 4.4% in the second quarter. Aviso Financial Inc. now owns 3,443 shares of the company’s stock valued at $319,000 after buying an additional 145 shares during the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Down 0.8%

NASDAQ CCEP opened at $100.46 on Monday. The business’s fifty day simple moving average is $96.65 and its 200-day simple moving average is $92.37. 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 52 week low of $81.00 and a 52 week high of $110.90.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CCEP shares. Evercore reissued 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. The Goldman Sachs Group upped their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. UBS Group boosted their target price on 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, JPMorgan Chase & Co. upped their price target on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and an average target price 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.