MetLife Investment Management LLC Sells 2,200 Shares of Coca-Cola Europacific Partners $CCEP

MetLife Investment Management LLC decreased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,100 shares of the company’s stock after selling 2,200 shares during the period. MetLife Investment Management LLC’s holdings in Coca-Cola Europacific Partners were worth $1,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Coca-Cola Europacific Partners by 2.1% during the 1st quarter. Invesco Ltd. now owns 10,335,894 shares of the company’s stock worth $899,533,000 after acquiring an additional 215,966 shares during the period. Vanguard Group Inc. raised its stake in 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 acquiring an additional 8,126,996 shares during the period. Goldman Sachs Group Inc. raised its stake in 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 acquiring an additional 1,214,493 shares during the period. JPMorgan Chase & Co. raised its stake in Coca-Cola Europacific Partners by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,030,119 shares of the company’s stock worth $263,711,000 after acquiring an additional 142,019 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Coca-Cola Europacific Partners by 1.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company’s stock worth $190,243,000 after acquiring an additional 38,911 shares during the period. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Down 1.6%

CCEP stock opened at $87.43 on Wednesday. The firm has a fifty day moving average price of $94.09 and a 200 day moving average price of $90.08. Coca-Cola Europacific Partners has a fifty-two week low of $73.40 and a fifty-two week high of $100.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The firm has a market cap of $40.30 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78.

Analyst Upgrades and Downgrades

A number of research firms have commented on CCEP. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Finally, Barclays cut their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.43.

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.