Cannell & Spears LLC lowered its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 67.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,703 shares of the company's stock after selling 21,900 shares during the period. Cannell & Spears LLC's holdings in Coca-Cola Europacific Partners were worth $970,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of CCEP. M&T Bank Corp raised its position in shares of Coca-Cola Europacific Partners by 298.4% in the 4th quarter. M&T Bank Corp now owns 25,603 shares of the company's stock valued at $2,322,000 after buying an additional 19,176 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 17.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 144,681 shares of the company's stock worth $13,123,000 after acquiring an additional 21,587 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $1,143,000. SEB Asset Management AB bought a new position in Coca-Cola Europacific Partners in the first quarter valued at approximately $6,759,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Coca-Cola Europacific Partners by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,873,922 shares of the company's stock valued at $532,765,000 after acquiring an additional 38,339 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.
Wall Street Analysts Forecast Growth
CCEP has been the topic of a number of research analyst reports. Weiss Ratings downgraded Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Wells Fargo & Company boosted their price target on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. UBS Group boosted their price target on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Barclays upped their price objective on Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $107.88.
Check Out Our Latest Report on Coca-Cola Europacific Partners
Coca-Cola Europacific Partners Trading Up 1.4%
Shares of NASDAQ:CCEP opened at $105.11 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $99.31 and a 200 day simple moving average of $96.99. Coca-Cola Europacific Partners has a one year low of $84.65 and a one year high of $110.90.
Coca-Cola Europacific Partners Dividend Announcement
The company also recently declared a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a $0.82 dividend. This represents a dividend yield of 213.0%. The ex-dividend date was Friday, May 15th.
About Coca-Cola Europacific Partners
(
Free Report)
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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