Y Intercept Hong Kong Ltd Purchases New Position in Coca-Cola Europacific Partners $CCEP

Y Intercept Hong Kong Ltd purchased a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 117,303 shares of the company’s stock, valued at approximately $10,636,000.

Other hedge funds have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Coca-Cola Europacific Partners by 7.6% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,288 shares of the company’s stock valued at $4,197,000 after acquiring an additional 3,250 shares during the period. Elevation Point Wealth Partners LLC grew its holdings in shares of Coca-Cola Europacific Partners by 111.1% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 15,717 shares of the company’s stock worth $1,425,000 after purchasing an additional 8,271 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Coca-Cola Europacific Partners by 24.1% in the 1st quarter. Keybank National Association OH now owns 6,417 shares of the company’s stock worth $582,000 after purchasing an additional 1,246 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Coca-Cola Europacific Partners by 3.2% in the 1st quarter. Fulton Bank N.A. now owns 3,699 shares of the company’s stock worth $335,000 after purchasing an additional 113 shares during the last quarter. Finally, USS Investment Management Ltd increased its position in shares of Coca-Cola Europacific Partners by 2.9% during the 1st quarter. USS Investment Management Ltd now owns 52,676 shares of the company’s stock worth $4,774,000 after purchasing an additional 1,473 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CCEP shares. Barclays lifted their price target on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company initiated coverage on shares of Coca-Cola Europacific Partners in a report on Friday, June 12th. They set an “overweight” rating and a $110.00 price objective for the company. Weiss Ratings cut shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday. Finally, UBS Group increased their price target on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Eight 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 has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Coca-Cola Europacific Partners Stock Up 0.5%

Coca-Cola Europacific Partners stock opened at $106.61 on Friday. The stock has a 50-day simple moving average of $95.68 and a 200 day simple moving average of $95.43. 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 12-month low of $84.65 and a 12-month high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were given a $0.82 dividend. This represents a yield of 213.0%. The ex-dividend date was Friday, May 15th.

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.