News Business Coca-Cola Europacific Partners PLC: Recent Stock Movement
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Coca-Cola Europacific Partners PLC: Recent Stock Movement

Published on April 2, 2024

Overview

Gulf International Bank UK Ltd, a prominent financial institution, has made strategic adjustments to its investment portfolio. In a recent move, the bank reduced its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 11.4% during the fourth quarter. Let's delve into the details.

Stock Position Adjustment

Gulf International Bank UK Ltd previously held 16,457 shares of Coca-Cola Europacific Partners. However, it recently sold 2,110 shares, resulting in a new total of 14,347 shares. The current value of this position stands at approximately $1,098,000.

Other Hedge Funds' Activity

Several other hedge funds have also made moves related to Coca-Cola Europacific Partners:

  • KB Financial Partners LLC acquired a new stake in shares of CCEP during the first quarter, adding to the company's investor base.
  • Global Retirement Partners LLC increased its position by 97.5% during the third quarter, now owning 644 shares.
  • Neo Ivy Capital Management entered the scene during the second quarter, acquiring a stake in CCEP.
  • NBC Securities Inc. also joined the ranks, purchasing shares during the third quarter.
  • Belpointe Asset Management LLC boosted its position by 52.5% in the first quarter, now holding 1,415 shares.

Analysts' Insights

Market analysts have been closely monitoring CCEP's performance:

  • JPMorgan Chase & Co. raised their price target from $72.50 to $77.00, maintaining an "overweight" rating.
  • Argus set a price objective of $85.00, emphasizing a "buy" recommendation.
  • Barclays adjusted their price target to $75.00, also classifying the stock as "overweight."
  • UBS Group increased their price target to $78.00, echoing a "buy" sentiment.

Overall, Coca-Cola Europacific Partners continues to attract investor interest, and its stock performance remains under scrutiny.

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