Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Coca-Cola Europacific Partners $CCEP

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 13.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,727,111 shares of the company’s stock after selling 263,652 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $156,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCEP. Bayban bought a new stake in Coca-Cola Europacific Partners in the 4th quarter worth about $25,000. Quarry LP lifted its position in shares of 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 buying an additional 146 shares in the last quarter. 1248 Management LLC purchased a new position in shares of Coca-Cola Europacific Partners in the 4th quarter worth approximately $38,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Coca-Cola Europacific Partners by 83.3% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $40,000 after buying an additional 200 shares during the last quarter. Finally, Fideuram Asset Management Ireland dac bought a new position in shares of Coca-Cola Europacific Partners in the fourth quarter valued at approximately $55,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCEP. 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 research note on Monday, May 18th. UBS Group raised their target price 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. Wells Fargo & Company boosted their price target on shares of Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Barclays boosted their price target on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.12.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $105.09 on Friday. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90. The business has a 50-day moving average of $96.59 and a 200 day moving average of $95.92. 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 firm also recently announced a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a $0.82 dividend. The ex-dividend date was Friday, May 15th. This represents a dividend yield of 213.0%.

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.