Thrivent Financial for Lutherans Reduces Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Thrivent Financial for Lutherans decreased its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 98.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,608 shares of the company’s stock after selling 135,164 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Coca-Cola Europacific Partners were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi grew its stake 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 purchasing an additional 87,675 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Coca-Cola Europacific Partners by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock worth $160,138,000 after buying an additional 58,247 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Coca-Cola Europacific Partners during the third quarter valued at approximately $52,364,000. Bank of New York Mellon Corp raised its holdings in shares of Coca-Cola Europacific Partners by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 643,090 shares of the company’s stock valued at $49,396,000 after acquiring an additional 3,719 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Coca-Cola Europacific Partners by 5.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 550,630 shares of the company’s stock worth $42,294,000 after acquiring an additional 28,867 shares during the period. 31.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $83.93 on Friday. Coca-Cola Europacific Partners PLC has a twelve month low of $65.94 and a twelve month high of $91.29. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $38.69 billion, a P/E ratio of 17.27, a PEG ratio of 4.89 and a beta of 0.73. The stock’s 50 day moving average is $83.77 and its 200 day moving average is $79.55.

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.