Coca-Cola Europacific Partners $CCEP Holdings Cut by Marathon Asset Management Ltd

Marathon Asset Management Ltd trimmed its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,165,190 shares of the company’s stock after selling 14,892 shares during the period. Coca-Cola Europacific Partners accounts for 3.9% of Marathon Asset Management Ltd’s investment portfolio, making the stock its 3rd biggest position. Marathon Asset Management Ltd owned about 0.25% of Coca-Cola Europacific Partners worth $105,345,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Coca-Cola Europacific Partners in the second quarter worth $381,335,000. Invesco Ltd. raised its holdings in shares of Coca-Cola Europacific Partners by 14.7% in the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock valued at $1,099,562,000 after acquiring an additional 1,523,055 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 24.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company’s stock valued at $540,050,000 after acquiring an additional 1,214,493 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Coca-Cola Europacific Partners by 8.1% during the 2nd quarter. Vanguard Group Inc. now owns 10,682,027 shares of the company’s stock valued at $984,804,000 after acquiring an additional 798,427 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of 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 worth $266,158,000 after purchasing an additional 709,723 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, November 28th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and an average target price of $99.33.

Coca-Cola Europacific Partners Stock Up 0.2%

CCEP stock opened at $91.69 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. Coca-Cola Europacific Partners has a one year low of $73.40 and a one year high of $100.67. The company’s 50 day moving average price is $90.79 and its two-hundred day moving average price is $91.66.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Friday, November 14th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a yield of 277.0%.

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.