Sumitomo Mitsui Trust Group Inc. Has $156.60 Million Stock Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• Sumitomo Mitsui Trust Group reduced its stake in Coca-Cola Europacific Partners by 13.2% in the first quarter, selling 263,652 shares and ending with 1,727,111 shares valued at about $156.6 million.
• Other major institutional investors also adjusted holdings, with firms like Invesco, Boston Partners, and Norges Bank maintaining or increasing positions; institutional ownership stands at 31.35% of the company.
• Analyst sentiment remains positive overall, with multiple firms reiterating Buy/Overweight ratings and an average price target of $107.12, while shares recently opened at $105.09 and trade near their 52-week high of $110.90.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 13.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,727,111 shares of the company's stock after selling 263,652 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.37% of Coca-Cola Europacific Partners worth $156,597,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. lifted its position in Coca-Cola Europacific Partners by 31.6% during the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company's stock worth $1,411,334,000 after purchasing an additional 3,751,430 shares during the period. Boston Partners increased its holdings in Coca-Cola Europacific Partners by 2.6% in the 3rd quarter. Boston Partners now owns 6,266,512 shares of the company's stock valued at $566,051,000 after buying an additional 156,613 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Coca-Cola Europacific Partners by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,873,922 shares of the company's stock valued at $532,765,000 after buying an additional 38,339 shares during the period. State Street Corp raised its position in shares of Coca-Cola Europacific Partners by 0.7% in the 3rd quarter. State Street Corp now owns 4,760,094 shares of the company's stock valued at $430,360,000 after buying an additional 31,054 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at approximately $363,294,000. Institutional investors own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

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

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $105.09 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 company's 50 day moving average price is $96.59 and its 200-day moving average price is $95.92. 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 firm also recently declared 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 of this dividend was Friday, May 15th. This represents a yield of 213.0%.

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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