Swiss Life Asset Management Ltd cut its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP – Free Report) by 33.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,034 shares of the company’s stock after selling 17,637 shares during the period. Swiss Life Asset Management Ltd’s holdings in Coca-Cola Europacific Partners were worth $3,178,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. First Command Advisory Services Inc. grew its stake in Coca-Cola Europacific Partners by 1,800.0% in the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock valued at $33,000 after acquiring an additional 342 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Coca-Cola Europacific Partners by 23.9% during the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock worth $70,000 after buying an additional 156 shares during the period. Bayforest Capital Ltd boosted its position in shares of Coca-Cola Europacific Partners by 802.2% during the third quarter. Bayforest Capital Ltd now owns 803 shares of the company’s stock worth $73,000 after buying an additional 714 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Coca-Cola Europacific Partners by 18.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company’s stock worth $92,000 after buying an additional 155 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Coca-Cola Europacific Partners by 76.0% during the third quarter. Assetmark Inc. now owns 1,051 shares of the company’s stock worth $95,000 after buying an additional 454 shares during the period. 31.35% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CCEP. UBS Group upped their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. The Goldman Sachs Group upped their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. upped their price objective on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and an average price target of $106.00.
Coca-Cola Europacific Partners Trading Down 0.6%
CCEP opened at $90.83 on Friday. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $110.90. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. The business’s 50-day simple moving average is $95.89 and its 200 day simple moving average is $94.00.
Coca-Cola Europacific Partners Announces Dividend
The business also recently announced a dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 15th will be issued a dividend of $0.82 per share. This represents a yield of 210.0%. The ex-dividend date is Friday, May 15th.
Coca-Cola Europacific Partners Company Profile
Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.
The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.
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