Coca-Cola Europacific Partners $CCEP Shares Bought by DNB Asset Management AS

DNB Asset Management AS increased its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,103,612 shares of the company’s stock after purchasing an additional 20,214 shares during the quarter. DNB Asset Management AS owned 0.24% of Coca-Cola Europacific Partners worth $100,098,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CCEP. AQR Capital Management LLC raised its holdings in Coca-Cola Europacific Partners by 10.5% in the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after purchasing an additional 677 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 23.9% during the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after acquiring an additional 156 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Coca-Cola Europacific Partners during the second quarter valued at approximately $653,000. Jump Financial LLC raised its holdings in shares of Coca-Cola Europacific Partners by 18.8% during the second quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock valued at $2,380,000 after acquiring an additional 4,059 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Coca-Cola Europacific Partners during the second quarter valued at approximately $202,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Down 1.6%

CCEP stock opened at $89.36 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 business has a 50 day simple moving average of $95.59 and a 200-day simple moving average of $93.97. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be given a $0.82 dividend. The ex-dividend date is Friday, May 15th. This represents a dividend yield of 213.0%.

Analysts Set New Price Targets

CCEP has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. UBS Group increased their target price 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. Evercore reissued an “outperform” rating and set a $112.00 target price on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Finally, Barclays increased their target price on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.00.

About Coca-Cola Europacific Partners

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.