Norges Bank Buys New Position in Coca-Cola Europacific Partners $CCEP

Norges Bank purchased a new stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,000,477 shares of the company’s stock, valued at approximately $363,294,000. Norges Bank owned about 0.87% of Coca-Cola Europacific Partners at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. AQR Capital Management LLC boosted its holdings 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 valued at $621,000 after acquiring an additional 677 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 valued at $70,000 after acquiring an additional 156 shares in the last quarter. Marshall Wace LLP bought a new stake in Coca-Cola Europacific Partners in the second quarter valued at $653,000. Jump Financial LLC boosted its holdings 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 valued at $2,380,000 after acquiring an additional 4,059 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Coca-Cola Europacific Partners in the second quarter valued at $202,000. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP opened at $89.69 on Tuesday. The stock’s 50 day moving average is $94.00 and its 200 day moving average is $94.25. 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 has a 12 month low of $84.65 and a 12 month high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup reissued 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. 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. 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. Finally, The Goldman Sachs Group raised their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and an average price target of $106.00.

Coca-Cola Europacific Partners Company 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.