Richard Bernstein Advisors LLC Sells 30,175 Shares of Coca-Cola Europacific Partners $CCEP

Richard Bernstein Advisors LLC decreased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 52.2% during the third quarter, Holdings Channel reports. The institutional investor owned 27,670 shares of the company’s stock after selling 30,175 shares during the period. Richard Bernstein Advisors LLC’s holdings in Coca-Cola Europacific Partners were worth $2,502,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Coca-Cola Europacific Partners by 13.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,094 shares of the company’s stock worth $11,129,000 after acquiring an additional 14,670 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Coca-Cola Europacific Partners by 148.4% during the 2nd quarter. First Trust Advisors LP now owns 1,005,817 shares of the company’s stock valued at $93,259,000 after purchasing an additional 600,962 shares during the period. Profund Advisors LLC increased its position in shares of Coca-Cola Europacific Partners by 14.1% in the second quarter. Profund Advisors LLC now owns 34,161 shares of the company’s stock valued at $3,167,000 after acquiring an additional 4,226 shares during the period. iA Global Asset Management Inc. increased its holdings in Coca-Cola Europacific Partners by 11.8% in the 3rd quarter. iA Global Asset Management Inc. now owns 124,169 shares of the company’s stock worth $11,226,000 after buying an additional 13,135 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 2.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,189,955 shares of the company’s stock valued at $197,994,000 after purchasing an additional 47,240 shares during the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $101.66 on Tuesday. 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 has a twelve month low of $80.70 and a twelve month high of $110.90. The company has a 50 day moving average of $95.78 and a 200-day moving average of $92.04.

Analyst Ratings Changes

CCEP has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a report on Thursday, January 8th. UBS Group lifted 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. The Goldman Sachs Group upped their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. 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. Finally, Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.71.

About Coca-Cola Europacific Partners

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.