Swiss National Bank Has $65.25 Million Stake in Coca-Cola Europacific Partners $CCEP

Key Points

• Swiss National Bank increased its stake in Coca-Cola Europacific Partners by 26.9% in the first quarter, buying 152,400 more shares and bringing its total holding to 719,614 shares worth about $65.25 million.
• Several other large institutional investors also held significant positions in CCEP, and 31.35% of the stock is owned by institutions and hedge funds.
• Analysts remain broadly bullish on the stock, with multiple firms raising price targets and the consensus rating standing at Moderate Buy with an average target price of $107.88.

Swiss National Bank lifted its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 26.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 719,614 shares of the company's stock after purchasing an additional 152,400 shares during the period. Swiss National Bank owned 0.16% of Coca-Cola Europacific Partners worth $65,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CCEP. Boston Partners increased its position in Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Boston Partners now owns 6,266,512 shares of the company's stock worth $566,051,000 after buying an additional 156,613 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Coca-Cola Europacific Partners by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,873,922 shares of the company's stock valued at $532,765,000 after acquiring an additional 38,339 shares during the period. State Street Corp grew its stake in shares of Coca-Cola Europacific Partners by 0.7% in the third quarter. State Street Corp now owns 4,760,094 shares of the company's stock valued at $430,360,000 after acquiring an additional 31,054 shares in the last quarter. Norges Bank bought a new position in Coca-Cola Europacific Partners during the fourth quarter worth about $363,294,000. Finally, FIL Ltd raised its stake in Coca-Cola Europacific Partners by 0.3% in the 4th quarter. FIL Ltd now owns 3,793,166 shares of the company's stock worth $344,312,000 after purchasing an additional 10,801 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on CCEP. Wells Fargo & Company boosted their price objective on shares of Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Barclays lifted 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 research report on Tuesday. 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 reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Finally, UBS Group lifted their price objective 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. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.88.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $105.19 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90. The stock has a 50-day moving average price of $98.45 and a two-hundred day moving average price of $96.72.

Coca-Cola Europacific Partners Announces Dividend

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

The business also recently disclosed a dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 15th were paid 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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