Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Position Cut by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 28.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,432 shares of the company’s stock after selling 120,639 shares during the period. Mackenzie Financial Corp owned approximately 0.07% of Coca-Cola Europacific Partners worth $19,851,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CCEP. Norges Bank bought a new position in shares of Coca-Cola Europacific Partners in the fourth quarter valued at approximately $66,427,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Coca-Cola Europacific Partners by 196.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,762,591 shares of the company’s stock valued at $97,507,000 after purchasing an additional 1,168,323 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Coca-Cola Europacific Partners by 94.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,839,421 shares of the company’s stock valued at $118,514,000 after purchasing an additional 894,560 shares during the period. BlackRock Inc. raised its stake in shares of Coca-Cola Europacific Partners by 5.0% in the 1st quarter. BlackRock Inc. now owns 14,447,992 shares of the company’s stock worth $702,316,000 after buying an additional 685,745 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Coca-Cola Europacific Partners by 1,183.0% in the first quarter. Balyasny Asset Management L.P. now owns 706,715 shares of the company’s stock valued at $41,830,000 after buying an additional 651,632 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $66.60 on Friday. The business’s 50-day moving average is $69.29 and its 200-day moving average is $65.23. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27. Coca-Cola Europacific Partners PLC has a fifty-two week low of $56.28 and a fifty-two week high of $72.67.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last issued its earnings results on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.85. On average, analysts anticipate that Coca-Cola Europacific Partners PLC will post 4.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CCEP has been the topic of a number of research analyst reports. StockNews.com raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Argus upped their target price on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Barclays lifted their price target on Coca-Cola Europacific Partners from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.02.

About Coca-Cola Europacific Partners

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.