Coca-Cola Europacific Partners $CCEP Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its Coca-Cola Europacific Partners stake by 38.8% in the third quarter, adding 15,433 shares to hold 55,187 shares valued at $5.6 million.
• Other institutional investors also reported sizable holdings or purchases; hedge funds and institutions collectively own 31.35% of CCEP.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $110.33. Shares opened at $117.49, above that consensus target.

Ethic Inc. boosted its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 38.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,187 shares of the company's stock after buying an additional 15,433 shares during the quarter. Ethic Inc.'s holdings in Coca-Cola Europacific Partners were worth $5,613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new position in Coca-Cola Europacific Partners during the first quarter valued at $97,058,000. Amundi increased its position in Coca-Cola Europacific Partners by 13.4% in the first quarter. Amundi now owns 3,399,052 shares of the company's stock worth $308,192,000 after buying an additional 401,683 shares in the last quarter. Cullen Capital Management LLC bought a new position in shares of Coca-Cola Europacific Partners in the second quarter worth about $30,519,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Coca-Cola Europacific Partners by 157.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 493,118 shares of the company's stock worth $44,715,000 after buying an additional 301,910 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Coca-Cola Europacific Partners by 14.5% during the 1st quarter. Bessemer Group Inc. now owns 2,289,254 shares of the company's stock valued at $207,568,000 after buying an additional 289,080 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $117.49 on Tuesday. The stock has a 50 day moving average of $106.86 and a 200 day moving average of $101.40. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.68. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $119.09.

Coca-Cola Europacific Partners Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be given a €1.42 dividend. This represents a yield of 286.0%. The ex-dividend date is Friday, November 20th.

Analyst Upgrades and Downgrades

CCEP has been the topic of several recent analyst reports. Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $112.00 to $124.00 and gave the company an "overweight" rating in a research report on Thursday, November 5th. Wells Fargo & Company upped their price objective on Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 4th. Sanford C. Bernstein reiterated a "market perform" rating and set a $110.00 target price on shares of Coca-Cola Europacific Partners in a research report on Wednesday, November 4th. Weiss Ratings raised Coca-Cola Europacific Partners from a "buy (a)" rating to a "buy (a+)" rating in a research note on Wednesday, November 4th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Coca-Cola Europacific Partners in a research report on Friday, September 4th. They set an "underweight" rating and a $92.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and a consensus price target of $110.33.

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Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners (CCEP) is a beverage company that manufactures, sells and distributes products under The Coca-Cola Company's brands. Its portfolio includes Coca-Cola, Fanta and Sprite, as well as water, sports drinks, energy drinks, juices and ready-to-drink tea and coffee.

CCEP serves customers across markets in Western Europe and the Asia-Pacific region, including Australia, New Zealand and parts of Southeast Asia. The company was formed in 2016 through the combination of Coca-Cola bottling operations in Europe and expanded into the Asia-Pacific region with its 2021 acquisition of Coca-Cola Amatil.

Damian Gammell is CCEP's chief executive officer.

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