William Blair Investment Management LLC trimmed its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP – Free Report) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 447,848 shares of the company’s stock after selling 44,396 shares during the period. William Blair Investment Management LLC’s holdings in Coca-Cola Europacific Partners were worth $40,620,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CCEP. Truist Financial Corp boosted its stake in shares of Coca-Cola Europacific Partners by 10,480.7% during the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after purchasing an additional 4,711,093 shares in the last quarter. Invesco Ltd. raised its position in shares of Coca-Cola Europacific Partners by 31.6% during the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock worth $1,411,334,000 after acquiring an additional 3,751,430 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Coca-Cola Europacific Partners by 12,873.0% during the third quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock worth $229,428,000 after acquiring an additional 2,518,085 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Coca-Cola Europacific Partners by 310.4% during the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock worth $210,802,000 after acquiring an additional 1,762,299 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Coca-Cola Europacific Partners by 32.8% during the second quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock worth $266,158,000 after acquiring an additional 709,723 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CCEP has been the subject of a number of analyst reports. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. JPMorgan Chase & Co. raised 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. UBS Group raised 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. The Goldman Sachs Group raised 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, Evercore restated an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $106.00.
Coca-Cola Europacific Partners Price Performance
Shares of CCEP stock opened at $94.12 on Monday. The stock has a 50 day simple moving average of $94.77 and a two-hundred day simple moving average of $94.14. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90.
Coca-Cola Europacific Partners Announces Dividend
The firm also recently announced a dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be issued a $0.82 dividend. This represents a yield of 213.0%. The ex-dividend date is Friday, May 15th.
Coca-Cola Europacific Partners 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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