Royal Bank of Canada Decreases Stock Holdings in Coca-Cola Europacific Partners $CCEP

Royal Bank of Canada trimmed its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 20.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,173,100 shares of the company’s stock after selling 302,460 shares during the quarter. Royal Bank of Canada’s holdings in Coca-Cola Europacific Partners were worth $106,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fulton Bank N.A. boosted its position in Coca-Cola Europacific Partners by 3.2% during the 1st quarter. Fulton Bank N.A. now owns 3,699 shares of the company’s stock valued at $335,000 after buying an additional 113 shares during the period. Parallel Advisors LLC increased its position in shares of Coca-Cola Europacific Partners by 3.7% in the first quarter. Parallel Advisors LLC now owns 3,341 shares of the company’s stock valued at $303,000 after acquiring an additional 119 shares during the period. Howard Capital Management Inc. increased its position in shares of Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Howard Capital Management Inc. now owns 4,451 shares of the company’s stock valued at $404,000 after acquiring an additional 125 shares during the period. Aaron Wealth Advisors LLC raised its stake in shares of Coca-Cola Europacific Partners by 5.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,728 shares of the company’s stock valued at $247,000 after acquiring an additional 129 shares during the last quarter. Finally, Genesee Capital Advisors LLC raised its stake in shares of Coca-Cola Europacific Partners by 1.2% during the fourth quarter. Genesee Capital Advisors LLC now owns 11,257 shares of the company’s stock valued at $1,021,000 after acquiring an additional 137 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group raised their target price on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Barclays upped 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. Wells Fargo & Company increased their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Finally, Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and an average price target of $107.88.

Coca-Cola Europacific Partners Price Performance

CCEP stock opened at $109.46 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $113.67. The firm has a 50-day moving average of $101.05 and a 200 day moving average of $97.81.

Coca-Cola Europacific Partners 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.