30,100 Shares in Coca-Cola Europacific Partners $CCEP Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) in the first quarter, Holdings Channel.com reports. The firm purchased 30,100 shares of the company’s stock, valued at approximately $2,729,000.

Several other hedge funds also recently added to or reduced their stakes in CCEP. Norges Bank bought a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter valued at approximately $363,294,000. Invesco Ltd. increased its stake in shares of Coca-Cola Europacific Partners by 31.6% in the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after purchasing an additional 3,751,430 shares during the period. Lazard Asset Management LLC raised its stake in Coca-Cola Europacific Partners by 310.4% during the 3rd quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after acquiring an additional 1,762,299 shares in the last quarter. Bank of America Corp DE raised its stake 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 valued at $266,158,000 after purchasing an additional 709,723 shares in the last quarter. Finally, Man Group plc raised its position in shares of Coca-Cola Europacific Partners by 219.8% during the 2nd quarter. Man Group plc now owns 1,001,770 shares of the company’s stock worth $92,884,000 after buying an additional 688,506 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CCEP. Weiss Ratings downgraded shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Barclays lifted their price objective on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. 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. Finally, Wells Fargo & Company started coverage on Coca-Cola Europacific Partners in a research report on Friday, June 12th. They issued an “overweight” rating and a $110.00 target price for the company. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.50.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $101.59 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. The stock’s 50-day moving average is $95.17 and its 200-day moving average is $95.04. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

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

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.