Kayne Anderson Rudnick Investment Management LLC Reduces Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Kayne Anderson Rudnick Investment Management LLC decreased its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,675 shares of the company’s stock after selling 839 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Coca-Cola Europacific Partners were worth $3,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCEP. Voisard Asset Management Group Inc. purchased a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth about $33,000. Crewe Advisors LLC purchased a new position in Coca-Cola Europacific Partners during the 1st quarter worth approximately $36,000. New Covenant Trust Company N.A. acquired a new stake in Coca-Cola Europacific Partners during the 1st quarter valued at approximately $36,000. New Millennium Group LLC purchased a new stake in shares of Coca-Cola Europacific Partners in the 2nd quarter valued at $37,000. Finally, Mather Group LLC. increased its stake in shares of Coca-Cola Europacific Partners by 142.0% in the second quarter. Mather Group LLC. now owns 668 shares of the company’s stock worth $47,000 after acquiring an additional 392 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $81.09 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. The company’s fifty day moving average price is $77.02 and its 200 day moving average price is $73.77. The stock has a market capitalization of $37.04 billion, a P/E ratio of 17.07, a P/E/G ratio of 3.64 and a beta of 0.90. Coca-Cola Europacific Partners PLC has a 1 year low of $56.28 and a 1 year high of $82.32.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CCEP. Bank of America increased their price target on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Barclays raised their target price on Coca-Cola Europacific Partners from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. BNP Paribas downgraded Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target for the company. in a report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.78.

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.