Schwartz Investment Counsel Inc. Cuts Stake in Coca-Cola Europacific Partners $CCEP

Key Points

• Schwartz Investment Counsel Inc. trimmed its stake in Coca-Cola Europacific Partners by 2.5% in the first quarter, selling 12,450 shares and ending with 480,000 shares valued at about $43.5 million.
• Other institutional investors were active in CCEP as well, with firms like AQR Capital Management and Jump Financial increasing positions, while institutional ownership overall stood at 31.35%.
• Wall Street sentiment remains positive: analysts currently have a Moderate Buy consensus on CCEP, with a consensus price target of $107.12 and several firms recently raising targets or reiterating buy ratings.

Schwartz Investment Counsel Inc. reduced its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,000 shares of the company's stock after selling 12,450 shares during the quarter. Coca-Cola Europacific Partners accounts for approximately 1.5% of Schwartz Investment Counsel Inc.'s investment portfolio, making the stock its 21st largest holding. Schwartz Investment Counsel Inc. owned approximately 0.10% of Coca-Cola Europacific Partners worth $43,522,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CCEP. AQR Capital Management LLC raised its stake in shares of Coca-Cola Europacific Partners by 10.5% during the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company's stock worth $621,000 after acquiring an additional 677 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Coca-Cola Europacific Partners by 23.9% in the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company's stock worth $70,000 after acquiring an additional 156 shares during the period. Marshall Wace LLP purchased a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter valued at approximately $653,000. Jump Financial LLC lifted its stake in Coca-Cola Europacific Partners by 18.8% in the 2nd quarter. Jump Financial LLC now owns 25,666 shares of the company's stock valued at $2,380,000 after buying an additional 4,059 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Coca-Cola Europacific Partners during the second quarter worth approximately $202,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays boosted their target price on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. 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. UBS Group raised their price target on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wells Fargo & Company boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.12.

Coca-Cola Europacific Partners Trading Up 0.2%

Shares of NASDAQ CCEP opened at $106.00 on Tuesday. 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 has a 52-week low of $84.65 and a 52-week high of $110.90. The stock's 50 day moving average price is $97.06 and its two-hundred day moving average price is $96.13.

Coca-Cola Europacific Partners Announces Dividend

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

Coca-Cola Europacific Partners 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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