Lazard Asset Management LLC Sells 637,367 Shares of Coca-Cola Europacific Partners $CCEP

Lazard Asset Management LLC lowered its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 34.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,209,597 shares of the company’s stock after selling 637,367 shares during the quarter. Lazard Asset Management LLC’s holdings in Coca-Cola Europacific Partners were worth $110,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Coca-Cola Europacific Partners by 10.5% during the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after purchasing an additional 677 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Coca-Cola Europacific Partners by 23.9% in the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after purchasing an additional 156 shares during the period. Marshall Wace LLP purchased a new stake in shares of Coca-Cola Europacific Partners during the 2nd quarter valued at approximately $653,000. Jump Financial LLC lifted its stake in shares of Coca-Cola Europacific Partners by 18.8% during the 2nd quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock valued at $2,380,000 after buying an additional 4,059 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Coca-Cola Europacific Partners in the 2nd quarter worth approximately $202,000. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $108.70 on Tuesday. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $110.90. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. The firm’s 50 day simple moving average is $99.64 and its 200 day simple moving average is $97.22.

Wall Street Analysts Forecast Growth

CCEP has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price target on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Weiss Ratings lowered Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Barclays lifted their price target on Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, UBS Group increased their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.88.

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.