DNB Asset Management AS Boosts Stock Position in Coca-Cola Europacific Partners $CCEP

DNB Asset Management AS increased its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.9% in the 4th quarter, HoldingsChannel reports. The fund owned 1,103,612 shares of the company’s stock after purchasing an additional 20,214 shares during the quarter. DNB Asset Management AS’s holdings in Coca-Cola Europacific Partners were worth $100,098,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its position in Coca-Cola Europacific Partners by 557.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 75,249 shares of the company’s stock worth $6,825,000 after acquiring an additional 63,796 shares during the period. Arbejdsmarkedets Tillaegspension purchased a new position in Coca-Cola Europacific Partners in the fourth quarter worth approximately $23,453,000. Allworth Financial LP grew its position in Coca-Cola Europacific Partners by 18.3% in the fourth quarter. Allworth Financial LP now owns 3,959 shares of the company’s stock worth $359,000 after acquiring an additional 613 shares during the period. Ameritas Advisory Services LLC grew its position in Coca-Cola Europacific Partners by 380.1% in the fourth quarter. Ameritas Advisory Services LLC now owns 3,361 shares of the company’s stock worth $305,000 after acquiring an additional 2,661 shares during the period. Finally, NewEdge Wealth LLC grew its position in Coca-Cola Europacific Partners by 18.9% in the fourth quarter. NewEdge Wealth LLC now owns 5,550 shares of the company’s stock worth $503,000 after acquiring an additional 883 shares during the period. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Down 1.6%

NASDAQ:CCEP opened at $89.36 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The stock’s fifty day moving average is $95.59 and its two-hundred day moving average is $93.97. Coca-Cola Europacific Partners has a 52 week low of $84.65 and a 52 week high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

CCEP has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Barclays increased their price objective 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. Finally, Evercore reiterated an “outperform” rating and issued a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

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.