Alliancebernstein L.P. Cuts Stock Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Alliancebernstein L.P. cut its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,425,759 shares of the company’s stock after selling 23,512 shares during the quarter. Alliancebernstein L.P.’s holdings in Coca-Cola Europacific Partners were worth $109,513,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCEP. Amundi raised its position in shares of Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Amundi now owns 3,078,851 shares of the company’s stock worth $233,716,000 after acquiring an additional 87,675 shares during the period. JPMorgan Chase & Co. raised its holdings in Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock worth $221,835,000 after purchasing an additional 872,060 shares during the period. Norges Bank purchased a new position in Coca-Cola Europacific Partners during the fourth quarter worth approximately $190,999,000. Geode Capital Management LLC grew its holdings in Coca-Cola Europacific Partners by 2.9% in the third quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock valued at $160,138,000 after purchasing an additional 58,247 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in shares of Coca-Cola Europacific Partners in the third quarter valued at approximately $52,364,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP opened at $87.41 on Thursday. The stock has a 50 day moving average price of $83.36 and a 200 day moving average price of $79.47. The stock has a market cap of $40.29 billion, a PE ratio of 17.99, a P/E/G ratio of 4.89 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. Coca-Cola Europacific Partners PLC has a one year low of $65.94 and a one year high of $88.39.

Analyst Ratings Changes

CCEP has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Barclays boosted their target price on shares of Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. Evercore ISI lifted their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, UBS Group increased their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.00.

About Coca-Cola Europacific Partners

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.