Sei Investments Co. Buys 124,365 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Sei Investments Co. increased its stake in Coca-Cola Europacific Partners by 26.8% in the first quarter, buying 124,365 additional shares and bringing its total holdings to 587,841 shares valued at about $53.3 million.
• Other large institutions also boosted positions in the company, including Norges Bank, Lazard Asset Management, Bank of America Corp DE, and Man Group, with 31.35% of the stock now held by hedge funds and other institutional investors.
• Analysts remain generally positive on CCEP, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating; shares recently traded up 1.4% at $105.11, near their 52-week high of $110.90.

Sei Investments Co. raised its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 587,841 shares of the company's stock after acquiring an additional 124,365 shares during the quarter. Sei Investments Co. owned approximately 0.13% of Coca-Cola Europacific Partners worth $53,299,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $363,294,000. Lazard Asset Management LLC raised its holdings in shares of Coca-Cola Europacific Partners by 310.4% during the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company's stock valued at $210,802,000 after purchasing an additional 1,762,299 shares during the last quarter. Bank of America Corp DE lifted its position in Coca-Cola Europacific Partners by 32.8% during the second quarter. Bank of America Corp DE now owns 2,870,553 shares of the company's stock valued at $266,158,000 after purchasing an additional 709,723 shares during the period. Man Group plc boosted its holdings in Coca-Cola Europacific Partners by 219.8% in the second quarter. Man Group plc now owns 1,001,770 shares of the company's stock worth $92,884,000 after purchasing an additional 688,506 shares during the last quarter. Finally, Danske Bank A S bought a new stake in Coca-Cola Europacific Partners in the 3rd quarter worth approximately $29,718,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Up 1.4%

CCEP opened at $105.11 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The firm's fifty day moving average is $99.31 and its 200 day moving average is $96.99. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

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

Analyst Upgrades and Downgrades

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

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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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