Cannell & Spears LLC Has $970,000 Stock Holdings in Coca-Cola Europacific Partners $CCEP

Cannell & Spears LLC reduced its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 67.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,703 shares of the company’s stock after selling 21,900 shares during the quarter. Cannell & Spears LLC’s holdings in Coca-Cola Europacific Partners were worth $970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CCEP. Bayban bought a new position in Coca-Cola Europacific Partners in the 4th quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in Coca-Cola Europacific Partners by 407.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after buying an additional 285 shares during the period. Whipplewood Advisors LLC grew its holdings in Coca-Cola Europacific Partners by 1,537.5% during the 1st quarter. Whipplewood Advisors LLC now owns 393 shares of the company’s stock worth $36,000 after acquiring an additional 369 shares during the last quarter. Quarry LP grew its holdings in Coca-Cola Europacific Partners by 59.1% during the 4th quarter. Quarry LP now owns 393 shares of the company’s stock worth $36,000 after acquiring an additional 146 shares during the last quarter. Finally, 1248 Management LLC acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $105.11 on Friday. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $110.90. 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 firm has a 50 day moving average price of $99.31 and a two-hundred day moving average price of $96.99.

Coca-Cola Europacific Partners Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 15th were paid a dividend of $0.82 per share. This represents a yield of 213.0%. The ex-dividend date of this dividend was Friday, May 15th.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CCEP shares. Barclays raised their price target on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Wells Fargo & Company increased their price objective on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Weiss Ratings downgraded Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, UBS Group upped their price target on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.88.

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.