Andra AP fonden Takes Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Andra AP fonden opened a new position in Coca-Cola Europacific Partners in Q1, buying 49,056 shares valued at about $4.45 million.
• Institutional ownership remains meaningful, with the article noting that 31.35% of CCEP shares are held by institutional investors. Several other funds also increased their stakes during the period.
• Wall Street sentiment is generally positive: CCEP has a Moderate Buy consensus rating, with eight Buy ratings and an average price target of $107.88, while several firms recently raised their targets.

Andra AP fonden acquired a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 49,056 shares of the company's stock, valued at approximately $4,448,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bayban bought a new position in shares of Coca-Cola Europacific Partners in the 4th quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Coca-Cola Europacific Partners by 407.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company's stock valued at $32,000 after buying an additional 285 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in shares of Coca-Cola Europacific Partners by 1,537.5% during the first quarter. Whipplewood Advisors LLC now owns 393 shares of the company's stock valued at $36,000 after buying an additional 369 shares during the last quarter. Quarry LP grew its holdings in shares of Coca-Cola Europacific Partners by 59.1% during the fourth quarter. Quarry LP now owns 393 shares of the company's stock valued at $36,000 after buying an additional 146 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter worth about $38,000. 31.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCEP. Weiss Ratings lowered Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Wells Fargo & Company lifted their target price on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Barclays raised their price objective on Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday. UBS Group upped their target price on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.88.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $105.88 on Thursday. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90. The firm has a 50-day moving average of $98.74 and a 200 day moving average of $96.82. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80.

Coca-Cola Europacific Partners Dividend Announcement

• Why Chemours Co NYSE: CC Stock is the Recipe for Gains

The company also recently announced a dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were paid a $0.82 dividend. The ex-dividend date was Friday, May 15th. This represents a dividend yield of 213.0%.

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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