Coca-Cola Europacific Partners $CCEP Stock Position Lifted by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 11.8% in the third quarter, Holdings Channel reports. The institutional investor owned 124,169 shares of the company’s stock after acquiring an additional 13,135 shares during the quarter. iA Global Asset Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $11,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Nordea Investment Management AB increased its position in Coca-Cola Europacific Partners by 0.8% in the 2nd quarter. Nordea Investment Management AB now owns 1,239,257 shares of the company’s stock worth $113,999,000 after purchasing an additional 10,014 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Coca-Cola Europacific Partners by 148.4% during the 2nd quarter. First Trust Advisors LP now owns 1,005,817 shares of the company’s stock valued at $93,259,000 after buying an additional 600,962 shares during the last quarter. Profund Advisors LLC grew its stake in shares of Coca-Cola Europacific Partners by 14.1% in the 2nd quarter. Profund Advisors LLC now owns 34,161 shares of the company’s stock valued at $3,167,000 after buying an additional 4,226 shares in the last quarter. Smith Group Asset Management LLC increased its holdings in Coca-Cola Europacific Partners by 5.8% in the second quarter. Smith Group Asset Management LLC now owns 82,641 shares of the company’s stock worth $7,662,000 after buying an additional 4,510 shares during the last quarter. Finally, Icon Advisers Inc. Co. bought a new position in Coca-Cola Europacific Partners during the second quarter valued at approximately $1,748,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Up 0.1%

NASDAQ CCEP opened at $89.65 on Friday. The company’s fifty day moving average is $90.26 and its two-hundred day moving average is $91.15. Coca-Cola Europacific Partners has a 52-week low of $76.04 and a 52-week high of $100.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Friday, November 14th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, November 14th. This represents a yield of 277.0%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $114.00 price target on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, January 9th. UBS Group cut their price objective on Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Barclays reaffirmed an “overweight” rating and set a $101.00 target price on shares of Coca-Cola Europacific Partners in a research report on Friday, January 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.80.

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.