iA Global Asset Management Inc. Sells 56,926 Shares of Coca-Cola Europacific Partners $CCEP

iA Global Asset Management Inc. reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 45.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 67,243 shares of the company’s stock after selling 56,926 shares during the period. iA Global Asset Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $6,099,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CCEP. AQR Capital Management LLC raised its stake in Coca-Cola Europacific Partners by 10.5% in the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after buying an additional 677 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Coca-Cola Europacific Partners by 23.9% in the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock worth $70,000 after buying an additional 156 shares in the last quarter. Marshall Wace LLP bought a new position in Coca-Cola Europacific Partners in the second quarter worth about $653,000. Jump Financial LLC raised its stake in Coca-Cola Europacific Partners by 18.8% in the second quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock worth $2,380,000 after buying an additional 4,059 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Coca-Cola Europacific Partners in the second quarter worth about $202,000. 31.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CCEP. Evercore reissued an “outperform” rating and issued a $112.00 price target on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. Barclays increased 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 research note on Thursday, April 30th. Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. The Goldman Sachs Group raised their target price on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $89.36 on Monday. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90. The company has a 50 day simple moving average of $95.59 and a two-hundred day simple moving average of $93.99. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is 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.