Ilmarinen Mutual Pension Insurance Co Sells 61,500 Shares of Coca-Cola Europacific Partners $CCEP

Ilmarinen Mutual Pension Insurance Co trimmed its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 39.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,500 shares of the company’s stock after selling 61,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Coca-Cola Europacific Partners were worth $8,480,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its position in shares of Coca-Cola Europacific Partners by 23.9% during the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after purchasing an additional 156 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Coca-Cola Europacific Partners by 18.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company’s stock valued at $92,000 after purchasing an additional 155 shares in the last quarter. Assetmark Inc. grew its position in shares of Coca-Cola Europacific Partners by 76.0% during the third quarter. Assetmark Inc. now owns 1,051 shares of the company’s stock valued at $95,000 after purchasing an additional 454 shares in the last quarter. Maseco LLP grew its position in shares of Coca-Cola Europacific Partners by 20.6% during the fourth quarter. Maseco LLP now owns 1,123 shares of the company’s stock valued at $103,000 after purchasing an additional 192 shares in the last quarter. Finally, CWM LLC grew its position in shares of Coca-Cola Europacific Partners by 11.1% during the fourth quarter. CWM LLC now owns 1,370 shares of the company’s stock valued at $124,000 after purchasing an additional 137 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Evercore restated an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Weiss Ratings lowered Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, UBS Group raised their price objective 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. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and an average target price of $106.00.

Coca-Cola Europacific Partners Trading Down 2.5%

CCEP opened at $92.29 on Friday. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. The stock has a 50-day moving average of $94.20 and a 200 day moving average of $94.27.

Coca-Cola Europacific Partners Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 15th were given a $0.82 dividend. The ex-dividend date was Friday, May 15th. This represents a yield of 213.0%.

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.