Coca-Cola Europacific Partners $CCEP Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,301,299 shares of the company’s stock after selling 136,037 shares during the period. Geode Capital Management LLC’s holdings in Coca-Cola Europacific Partners were worth $207,121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased 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 valued at $621,000 after purchasing an additional 677 shares during the period. Geneos Wealth Management Inc. increased 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 valued at $70,000 after purchasing an additional 156 shares during the period. Marshall Wace LLP acquired a new position in Coca-Cola Europacific Partners in the second quarter valued at $653,000. Jump Financial LLC increased 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 valued at $2,380,000 after purchasing an additional 4,059 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Coca-Cola Europacific Partners in the second quarter valued at $202,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Ratings Changes

CCEP has been the topic of a number of recent research reports. UBS Group lifted their price objective 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. Barclays lifted their price objective on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. The Goldman Sachs Group lifted their price objective 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, Evercore restated an “outperform” rating and issued a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Coca-Cola Europacific Partners Trading Up 1.5%

Shares of NASDAQ:CCEP opened at $91.00 on Wednesday. The firm’s 50-day simple moving average is $94.00 and its 200-day simple moving average is $94.25. 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 fifty-two week low of $84.65 and a fifty-two week high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were issued a $0.82 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a dividend 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.