Coca-Cola Europacific Partners $CCEP Shares Sold by Marathon Asset Management Ltd

Marathon Asset Management Ltd trimmed its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,127,175 shares of the company’s stock after selling 38,015 shares during the period. Coca-Cola Europacific Partners comprises 3.9% of Marathon Asset Management Ltd’s holdings, making the stock its 4th largest position. Marathon Asset Management Ltd’s holdings in Coca-Cola Europacific Partners were worth $102,235,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Saranac Partners Ltd boosted its stake in shares of Coca-Cola Europacific Partners by 9.1% during the 4th quarter. Saranac Partners Ltd now owns 3,708 shares of the company’s stock worth $325,000 after buying an additional 310 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Coca-Cola Europacific Partners by 21.1% during the 4th quarter. Larson Financial Group LLC now owns 4,732 shares of the company’s stock worth $429,000 after buying an additional 825 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Coca-Cola Europacific Partners by 32.3% during the 4th quarter. Handelsbanken Fonder AB now owns 311,523 shares of the company’s stock worth $28,255,000 after buying an additional 75,990 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Coca-Cola Europacific Partners by 8.9% during the 4th quarter. Profund Advisors LLC now owns 36,085 shares of the company’s stock worth $3,273,000 after buying an additional 2,958 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Coca-Cola Europacific Partners by 42.0% during the 4th quarter. ProShare Advisors LLC now owns 711,818 shares of the company’s stock worth $64,562,000 after buying an additional 210,554 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Down 0.6%

NASDAQ CCEP opened at $91.86 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $110.90. The company has a 50 day moving average of $95.23 and a 200-day moving average of $94.02.

Coca-Cola Europacific Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CCEP shares. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. 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. Evercore reiterated an “outperform” rating and issued a $112.00 target price on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. Finally, Weiss Ratings downgraded shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.00.

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.