Gateway Investment Advisers LLC Has $5.65 Million Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• Gateway Investment Advisers LLC boosted its stake in Coca‑Cola Europacific Partners by 341.9%, adding 48,225 shares to hold 62,328 shares worth about $5.65 million at quarter end.
• Coca‑Cola Europacific Partners declared a dividend of $0.82 per share payable on May 27 to investors of record on May 15 (ex-dividend date May 15), the article reports a yield of 197.0%.
• Analysts have a consensus rating of Moderate Buy with an average target of $106 (seven Buys, three Holds); the stock recently traded near $93.50 with a 52-week range of $84.65–$110.90.

Gateway Investment Advisers LLC lifted its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 341.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,328 shares of the company's stock after acquiring an additional 48,225 shares during the period. Gateway Investment Advisers LLC's holdings in Coca-Cola Europacific Partners were worth $5,653,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Coca-Cola Europacific Partners in the 3rd quarter valued at approximately $31,000. First Command Advisory Services Inc. raised its position in shares of Coca-Cola Europacific Partners by 1,800.0% in the 3rd quarter. First Command Advisory Services Inc. now owns 361 shares of the company's stock valued at $33,000 after acquiring an additional 342 shares during the period. Bayforest Capital Ltd raised its position in shares of Coca-Cola Europacific Partners by 802.2% in the 3rd quarter. Bayforest Capital Ltd now owns 803 shares of the company's stock valued at $73,000 after acquiring an additional 714 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Coca-Cola Europacific Partners by 23.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company's stock valued at $70,000 after acquiring an additional 156 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Coca-Cola Europacific Partners by 18.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company's stock valued at $92,000 after acquiring an additional 155 shares during the period. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP opened at $93.50 on Friday. The business has a 50 day simple moving average of $97.43 and a 200 day simple moving average of $93.97. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $110.90. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 15th will be paid a dividend of $0.82 per share. This represents a yield of 197.0%. The ex-dividend date of this dividend is Friday, May 15th.

Analysts Set New Price Targets

A number of analysts recently weighed in on CCEP shares. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. Citigroup reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $114.00 price target on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. UBS Group lifted their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group lifted their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $106.00.

Coca-Cola Europacific Partners Company 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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