William Blair Investment Management LLC Sells 44,396 Shares of Coca-Cola Europacific Partners $CCEP

William Blair Investment Management LLC lessened its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 447,848 shares of the company’s stock after selling 44,396 shares during the period. William Blair Investment Management LLC owned 0.10% of Coca-Cola Europacific Partners worth $40,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Park Avenue Securities LLC raised its stake in Coca-Cola Europacific Partners by 1.9% in the 4th quarter. Park Avenue Securities LLC now owns 6,373 shares of the company’s stock valued at $578,000 after acquiring an additional 119 shares during the period. Howard Capital Management Inc. increased its position in Coca-Cola Europacific Partners by 2.9% during the 4th quarter. Howard Capital Management Inc. now owns 4,451 shares of the company’s stock worth $404,000 after buying an additional 125 shares during the period. Aaron Wealth Advisors LLC increased its position in Coca-Cola Europacific Partners by 5.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,728 shares of the company’s stock worth $247,000 after buying an additional 129 shares during the period. Genesee Capital Advisors LLC increased its position in Coca-Cola Europacific Partners by 1.2% during the 4th quarter. Genesee Capital Advisors LLC now owns 11,257 shares of the company’s stock worth $1,021,000 after buying an additional 137 shares during the period. Finally, CWM LLC increased its position in Coca-Cola Europacific Partners by 11.1% during the 4th quarter. CWM LLC now owns 1,370 shares of the company’s stock worth $124,000 after buying an additional 137 shares during the period. Institutional investors own 31.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CCEP. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Barclays raised their price target on 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. Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. raised their price target on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Finally, Evercore restated an “outperform” rating and issued a $112.00 price target on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP opened at $94.12 on Monday. The stock’s 50-day simple moving average is $94.77 and its 200 day simple moving average is $94.14. 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 has a twelve month low of $84.65 and a twelve month high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

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