iA Global Asset Management Inc. Sells 56,926 Shares of Coca-Cola Europacific Partners $CCEP

iA Global Asset Management Inc. trimmed its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 45.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,243 shares of the company’s stock after selling 56,926 shares during the period. iA Global Asset Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $6,099,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. DNB Asset Management AS boosted its position in Coca-Cola Europacific Partners by 1.9% during the fourth quarter. DNB Asset Management AS now owns 1,103,612 shares of the company’s stock valued at $100,098,000 after buying an additional 20,214 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Coca-Cola Europacific Partners by 557.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 75,249 shares of the company’s stock valued at $6,825,000 after buying an additional 63,796 shares during the period. Arbejdsmarkedets Tillaegspension purchased a new stake in Coca-Cola Europacific Partners during the fourth quarter valued at about $23,453,000. Allworth Financial LP boosted its position in Coca-Cola Europacific Partners by 18.3% during the fourth quarter. Allworth Financial LP now owns 3,959 shares of the company’s stock valued at $359,000 after buying an additional 613 shares during the period. Finally, Ameritas Advisory Services LLC boosted its position in Coca-Cola Europacific Partners by 380.1% during the fourth quarter. Ameritas Advisory Services LLC now owns 3,361 shares of the company’s stock valued at $305,000 after buying an additional 2,661 shares during the period. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $89.36 on Monday. 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 firm has a 50-day moving average of $95.59 and a 200-day moving average of $93.99. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. UBS Group upped their price target on shares of 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. The Goldman Sachs Group upped their price target on shares of 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. Evercore restated an “outperform” rating and set a $112.00 price target on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.