Healthcare of Ontario Pension Plan Trust Fund Sells 15,095 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its Coca-Cola Europacific Partners stake by 5.4%, selling 15,095 shares and retaining 265,424 shares valued at approximately $24.1 million.
• Institutional sentiment was mixed but generally positive: several funds increased their holdings, while hedge funds and other institutional investors collectively owned 31.35% of the company.
• Analysts maintain a favorable outlook, with eight Buy ratings and three Holds. The stock has a “Moderate Buy” consensus rating and an average price target of $107.88.

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 265,424 shares of the company's stock after selling 15,095 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.06% of Coca-Cola Europacific Partners worth $24,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its stake in Coca-Cola Europacific Partners by 157.9% during 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. Inceptionr LLC raised its stake in shares of Coca-Cola Europacific Partners by 65.0% in the first quarter. Inceptionr LLC now owns 16,195 shares of the company's stock valued at $1,468,000 after acquiring an additional 6,377 shares during the period. Sei Investments Co. raised its stake in shares of Coca-Cola Europacific Partners by 26.8% in the first quarter. Sei Investments Co. now owns 587,841 shares of the company's stock valued at $53,299,000 after acquiring an additional 124,365 shares during the period. Lido Advisors LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 80.7% in the 1st quarter. Lido Advisors LLC now owns 4,007 shares of the company's stock worth $363,000 after acquiring an additional 1,789 shares during the last quarter. Finally, CI Investments Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 1.8% in the 1st quarter. CI Investments Inc. now owns 283,508 shares of the company's stock worth $25,706,000 after acquiring an additional 5,109 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP opened at $105.11 on Monday. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90. The company's 50-day moving average price is $99.31 and its 200-day moving average price is $97.05. 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

The business 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. This represents a yield of 213.0%. The ex-dividend date was Friday, May 15th.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Weiss Ratings lowered Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Wells Fargo & Company upped their target price on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Finally, UBS Group raised their price target on 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. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and an average price target of $107.88.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.