Norges Bank bought a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,000,477 shares of the company’s stock, valued at approximately $363,294,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth approximately $55,000. Geneos Wealth Management Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 23.9% in the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock worth $70,000 after acquiring an additional 156 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Coca-Cola Europacific Partners by 18.0% in the third quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company’s stock worth $92,000 after acquiring an additional 155 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 76.0% in the third quarter. Assetmark Inc. now owns 1,051 shares of the company’s stock worth $95,000 after acquiring an additional 454 shares during the last quarter. Finally, Maseco LLP boosted its stake in shares of Coca-Cola Europacific Partners by 20.6% in the fourth quarter. Maseco LLP now owns 1,123 shares of the company’s stock worth $103,000 after acquiring an additional 192 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CCEP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted 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 lifted 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. Evercore reiterated 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. Weiss Ratings downgraded Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.
Coca-Cola Europacific Partners Stock Down 1.1%
NASDAQ:CCEP opened at $89.69 on Tuesday. The stock has a 50-day simple moving average of $94.00 and a 200-day simple moving average of $94.25. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $110.90. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23.
Coca-Cola Europacific Partners Announces Dividend
The business also recently disclosed a dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a yield of 213.0%.
About Coca-Cola Europacific Partners
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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