Aristotle Capital Management LLC Cuts Stock Position in Coca-Cola Europacific Partners $CCEP

Aristotle Capital Management LLC cut its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 3.5% during the third quarter, Holdings Channel.com reports. The fund owned 1,905,754 shares of the company’s stock after selling 68,292 shares during the period. Aristotle Capital Management LLC’s holdings in Coca-Cola Europacific Partners were worth $172,303,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of Coca-Cola Europacific Partners during the third quarter worth about $31,000. First Command Advisory Services Inc. raised its stake in Coca-Cola Europacific Partners by 1,800.0% during the 3rd quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock valued at $33,000 after purchasing an additional 342 shares during the period. Westerkirk Capital Inc. purchased a new position in Coca-Cola Europacific Partners in the 2nd quarter worth approximately $37,000. MAI Capital Management lifted its holdings in Coca-Cola Europacific Partners by 113.4% in the 2nd quarter. MAI Capital Management now owns 414 shares of the company’s stock worth $38,000 after purchasing an additional 220 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Coca-Cola Europacific Partners by 125.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 446 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares during the period. Institutional investors own 31.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CCEP. Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Evercore reaffirmed an “outperform” rating and set a $112.00 target price on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. The Goldman Sachs Group lifted their price target on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, UBS Group boosted 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 research note on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.71.

Coca-Cola Europacific Partners Trading Down 0.8%

NASDAQ:CCEP opened at $100.46 on Friday. Coca-Cola Europacific Partners has a 1 year low of $81.00 and a 1 year high of $110.90. The stock’s 50 day simple moving average is $96.65 and its two-hundred day simple moving average is $92.34. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23.

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.