Coca-Cola Europacific Partners $CCEP Stock Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 156,854 shares of the company’s stock after selling 6,224 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coca-Cola Europacific Partners were worth $14,614,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CCEP. Assetmark Inc. lifted its position in shares of Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company’s stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company’s stock valued at $32,000 after acquiring an additional 245 shares in the last quarter. HM Payson & Co. acquired a new position in Coca-Cola Europacific Partners in the 1st quarter valued at approximately $33,000. Motco increased its stake in Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the period. Finally, Quarry LP increased its stake in Coca-Cola Europacific Partners by 115.8% in the 1st quarter. Quarry LP now owns 436 shares of the company’s stock valued at $38,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $90.54 on Friday. The company’s fifty day moving average is $89.48 and its 200-day moving average is $90.89. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67. The firm has a market cap of $41.73 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several research reports. UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Barclays dropped their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Coca-Cola Europacific Partners in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.40.

Coca-Cola Europacific Partners 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.