CIBC Asset Management Inc Grows Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

CIBC Asset Management Inc grew its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEPFree Report) by 333.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,825 shares of the company’s stock after purchasing an additional 69,123 shares during the period. CIBC Asset Management Inc’s holdings in Coca-Cola Europacific Partners were worth $5,995,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CCEP. GAMMA Investing LLC purchased a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter valued at $28,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Coca-Cola Europacific Partners by 220.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the company’s stock worth $34,000 after purchasing an additional 352 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 24.1% during the fourth quarter. Global Retirement Partners LLC now owns 799 shares of the company’s stock worth $54,000 after purchasing an additional 155 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $61,000. Finally, Assetmark Inc. acquired a new position in Coca-Cola Europacific Partners in the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock opened at $73.83 on Thursday. Coca-Cola Europacific Partners PLC has a 1-year low of $56.28 and a 1-year high of $75.43. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 1.27. The stock has a 50 day simple moving average of $71.19 and a 200-day simple moving average of $68.42.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, May 23rd. Stockholders of record on Friday, May 10th were given a $0.79 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a dividend yield of 5.6%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CCEP. Argus upped their price objective on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Barclays increased their price target on Coca-Cola Europacific Partners from $78.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. StockNews.com cut Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a report on Sunday, May 19th. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, UBS Group lifted their price target on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.44.

Get Our Latest Analysis on CCEP

Coca-Cola Europacific Partners Profile

(Free Report)

Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. It offers flavours, mixers, and energy drinks; soft drinks, waters, enhanced water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.

See Also

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Institutional Ownership by Quarter for Coca-Cola Europacific Partners (NASDAQ:CCEP)

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