Citigroup Inc. Sells 54,688 Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP)

Citigroup Inc. decreased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,534 shares of the company’s stock after selling 54,688 shares during the period. Citigroup Inc. owned approximately 0.10% of Coca-Cola Europacific Partners worth $41,473,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Coca-Cola Europacific Partners by 11.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,539 shares of the company’s stock worth $17,453,000 after purchasing an additional 19,951 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth $722,000. Vanguard Group Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 462.7% during the 1st quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company’s stock worth $862,167,000 after purchasing an additional 8,126,996 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 24.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company’s stock worth $540,050,000 after purchasing an additional 1,214,493 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth $5,593,000. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock opened at $94.76 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a twelve month low of $72.50 and a twelve month high of $100.67. The company has a market cap of $43.68 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.49 and a beta of 0.75. The business has a fifty day simple moving average of $94.78 and a 200 day simple moving average of $88.88.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CCEP shares. Wall Street Zen lowered Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday. Morgan Stanley lowered Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a report on Thursday. UBS Group upped their price objective on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Finally, Barclays dropped their price objective on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.43.

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.