Oppenheimer Asset Management Inc. Reduces Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Oppenheimer Asset Management Inc. decreased its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 75,882 shares of the company’s stock after selling 465 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $5,828,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Coca-Cola Europacific Partners by 307.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company’s stock valued at $191,984,000 after acquiring an additional 1,839,321 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Coca-Cola Europacific Partners in the 3rd quarter valued at about $52,364,000. SG Americas Securities LLC raised its holdings in shares of Coca-Cola Europacific Partners by 120.8% in the 4th quarter. SG Americas Securities LLC now owns 433,121 shares of the company’s stock valued at $33,268,000 after acquiring an additional 236,917 shares in the last quarter. Generate Investment Management Ltd purchased a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter valued at about $14,195,000. Finally, Verde Servicos Internacionais S.A. purchased a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter valued at about $14,124,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $86.26 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. The business’s 50 day simple moving average is $79.35 and its two-hundred day simple moving average is $78.56. The stock has a market capitalization of $39.76 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 4.89 and a beta of 0.91. Coca-Cola Europacific Partners PLC has a one year low of $65.94 and a one year high of $88.39.

Analysts Set New Price Targets

Several brokerages have recently commented on CCEP. Barclays reduced their price objective on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Sanford C. Bernstein started coverage on Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 target price for the company. Morgan Stanley upgraded Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. UBS Group boosted their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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.