Hsbc Holdings PLC Sells 391,670 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• HSBC Holdings PLC cut its stake in Coca-Cola Europacific Partners by 77.4% in the fourth quarter, selling 391,670 shares and leaving it with 114,139 shares worth about $10.4 million.
• The stock has drawn mixed-but-leaning-positive analyst attention, with several firms maintaining or raising buy/overweight ratings; the current consensus is Moderate Buy with a price target of $107.12.
• CCEP was trading at $105.43 and recently paid a $0.82 dividend, while the company continues to operate as a major independent bottler and distributor of Coca-Cola beverages across Europe and Asia-Pacific.

Hsbc Holdings PLC reduced its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 77.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,139 shares of the company's stock after selling 391,670 shares during the quarter. Hsbc Holdings PLC's holdings in Coca-Cola Europacific Partners were worth $10,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its position in shares of Coca-Cola Europacific Partners by 1.9% during the 4th quarter. Park Avenue Securities LLC now owns 6,373 shares of the company's stock worth $578,000 after buying an additional 119 shares during the period. Howard Capital Management Inc. lifted its holdings in Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Howard Capital Management Inc. now owns 4,451 shares of the company's stock valued at $404,000 after buying an additional 125 shares during the period. Aaron Wealth Advisors LLC boosted its stake in Coca-Cola Europacific Partners by 5.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,728 shares of the company's stock valued at $247,000 after acquiring an additional 129 shares during the last quarter. Parallel Advisors LLC boosted its stake in Coca-Cola Europacific Partners by 4.3% in the fourth quarter. Parallel Advisors LLC now owns 3,222 shares of the company's stock valued at $292,000 after acquiring an additional 134 shares during the last quarter. Finally, Genesee Capital Advisors LLC grew its holdings in Coca-Cola Europacific Partners by 1.2% during the 4th quarter. Genesee Capital Advisors LLC now owns 11,257 shares of the company's stock worth $1,021,000 after acquiring an additional 137 shares during the period. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ:CCEP opened at $105.43 on Thursday. The company has a 50 day moving average price of $96.44 and a two-hundred day moving average price of $95.83. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a 52 week low of $84.65 and a 52 week high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on CCEP shares. UBS Group upped their target price on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. Weiss Ratings downgraded Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Barclays upped their price objective on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company raised their target price on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.12.

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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