Exane Asset Management Cuts Stock Holdings in Coca-Cola Europacific Partners $CCEP

Exane Asset Management decreased its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 35.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171,513 shares of the company’s stock after selling 92,734 shares during the quarter. Coca-Cola Europacific Partners accounts for approximately 5.6% of Exane Asset Management’s holdings, making the stock its 6th largest position. Exane Asset Management’s holdings in Coca-Cola Europacific Partners were worth $15,538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Coca-Cola Europacific Partners by 0.8% during the second quarter. Nordea Investment Management AB now owns 1,239,257 shares of the company’s stock valued at $113,999,000 after acquiring an additional 10,014 shares during the period. First Trust Advisors LP boosted its stake in Coca-Cola Europacific Partners by 148.4% during the 2nd quarter. First Trust Advisors LP now owns 1,005,817 shares of the company’s stock valued at $93,259,000 after purchasing an additional 600,962 shares in the last quarter. Smith Group Asset Management LLC increased its position in shares of Coca-Cola Europacific Partners by 5.8% during the 2nd quarter. Smith Group Asset Management LLC now owns 82,641 shares of the company’s stock valued at $7,662,000 after purchasing an additional 4,510 shares during the period. Profund Advisors LLC increased its position in shares of Coca-Cola Europacific Partners by 14.1% during the 2nd quarter. Profund Advisors LLC now owns 34,161 shares of the company’s stock valued at $3,167,000 after purchasing an additional 4,226 shares during the period. Finally, Icon Advisers Inc. Co. bought a new stake in shares of Coca-Cola Europacific Partners in the 2nd quarter worth $1,748,000. 31.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America reaffirmed a “neutral” rating and set a $96.00 target price (down previously from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, January 9th. Barclays reiterated an “overweight” rating and issued a $101.00 target price on shares of Coca-Cola Europacific Partners in a report on Friday, January 16th. UBS Group reduced their target price on shares of Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, October 30th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.80.

Coca-Cola Europacific Partners Stock Up 1.4%

CCEP stock opened at $90.77 on Wednesday. Coca-Cola Europacific Partners has a one year low of $76.97 and a one year high of $100.67. The firm has a 50-day moving average of $90.25 and a two-hundred day moving average of $90.96. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15.

Coca-Cola Europacific Partners Dividend Announcement

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

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.