Catalyst Funds Management Pty Ltd Increases Stock Holdings in Coca-Cola Europacific Partners $CCEP

Catalyst Funds Management Pty Ltd increased its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 83.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,113 shares of the company’s stock after purchasing an additional 10,500 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Coca-Cola Europacific Partners were worth $2,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Coca-Cola Europacific Partners by 13.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,094 shares of the company’s stock valued at $11,129,000 after purchasing an additional 14,670 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Coca-Cola Europacific Partners in the third quarter valued at $980,000. Vestcor Inc grew its position in shares of Coca-Cola Europacific Partners by 14.4% in the third quarter. Vestcor Inc now owns 80,665 shares of the company’s stock valued at $7,293,000 after purchasing an additional 10,125 shares during the period. NEOS Investment Management LLC grew its position in shares of Coca-Cola Europacific Partners by 77.1% in the third quarter. NEOS Investment Management LLC now owns 146,000 shares of the company’s stock valued at $13,200,000 after purchasing an additional 63,554 shares during the period. Finally, National Pension Service grew its position in shares of Coca-Cola Europacific Partners by 27.2% in the third quarter. National Pension Service now owns 128,006 shares of the company’s stock valued at $11,573,000 after purchasing an additional 27,411 shares during the period. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Barclays boosted their price target on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings downgraded Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Coca-Cola Europacific Partners Stock Performance

CCEP stock opened at $94.12 on Friday. The stock has a 50-day moving average price of $94.77 and a two-hundred day moving average price of $94.08. Coca-Cola Europacific Partners has a 12-month low of $84.65 and a 12-month high of $110.90. 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 Announces Dividend

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

Coca-Cola Europacific Partners 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.