Coca-Cola Europacific Partners $CCEP Shares Acquired by Ethic Inc.

Ethic Inc. grew its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 38.8% during the third quarter, Holdings Channel reports. The institutional investor owned 55,187 shares of the company’s stock after acquiring an additional 15,433 shares during the quarter. Ethic Inc.’s holdings in Coca-Cola Europacific Partners were worth $5,613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. StoneX Group Inc. purchased a new stake in Coca-Cola Europacific Partners during the third quarter valued at approximately $218,000. Kestra Advisory Services LLC boosted its stake in Coca-Cola Europacific Partners by 56.2% in the third quarter. Kestra Advisory Services LLC now owns 3,322 shares of the company’s stock valued at $338,000 after acquiring an additional 1,195 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in Coca-Cola Europacific Partners in the third quarter worth $5,204,000. Provenance Wealth Advisors LLC increased its position in shares of Coca-Cola Europacific Partners by 17,913.6% during the third quarter. Provenance Wealth Advisors LLC now owns 3,963 shares of the company’s stock worth $403,000 after purchasing an additional 3,941 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Coca-Cola Europacific Partners during the third quarter worth $20,412,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

CCEP stock opened at $117.49 on Tuesday. Coca-Cola Europacific Partners has a 52 week low of $84.65 and a 52 week high of $119.09. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20. The firm has a 50 day moving average of $106.86 and a 200 day moving average of $101.40.

Coca-Cola Europacific Partners Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be issued a €1.42 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a dividend yield of 286.0%.

Wall Street Analysts Forecast Growth

CCEP has been the subject of several analyst reports. UBS Group increased their price objective on Coca-Cola Europacific Partners from $107.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $114.00 price objective (up from $110.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, September 16th. Sanford C. Bernstein restated a “market perform” rating and set a $110.00 target price on shares of Coca-Cola Europacific Partners in a research note on Wednesday, November 4th. ING Group lowered Coca-Cola Europacific Partners to a “hold” rating in a research report on Friday, September 18th. Finally, Wells Fargo & Company increased their price target on Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $110.33.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners (CCEP) is a beverage company that manufactures, sells and distributes products under The Coca-Cola Company’s brands. Its portfolio includes Coca-Cola, Fanta and Sprite, as well as water, sports drinks, energy drinks, juices and ready-to-drink tea and coffee.

CCEP serves customers across markets in Western Europe and the Asia-Pacific region, including Australia, New Zealand and parts of Southeast Asia. The company was formed in 2016 through the combination of Coca-Cola bottling operations in Europe and expanded into the Asia-Pacific region with its 2021 acquisition of Coca-Cola Amatil.

Damian Gammell is CCEP’s chief executive officer.