CIBC Asset Management Inc Acquires 6,706 Shares of Coca-Cola Europacific Partners $CCEP

CIBC Asset Management Inc lifted its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,520 shares of the company’s stock after purchasing an additional 6,706 shares during the period. CIBC Asset Management Inc’s holdings in Coca-Cola Europacific Partners were worth $10,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at about $55,000. Geneos Wealth Management Inc. boosted its position in shares of Coca-Cola Europacific Partners by 23.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after purchasing an additional 156 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Coca-Cola Europacific Partners by 18.0% in the third quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company’s stock worth $92,000 after acquiring an additional 155 shares in the last quarter. Assetmark Inc. boosted its holdings in Coca-Cola Europacific Partners by 76.0% in the third quarter. Assetmark Inc. now owns 1,051 shares of the company’s stock worth $95,000 after acquiring an additional 454 shares in the last quarter. Finally, Maseco LLP boosted its holdings in Coca-Cola Europacific Partners by 20.6% in the fourth quarter. Maseco LLP now owns 1,123 shares of the company’s stock worth $103,000 after acquiring an additional 192 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several recent research reports. Evercore reiterated an “outperform” rating and issued a $112.00 price target on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Weiss Ratings lowered Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. The Goldman Sachs Group increased their price target on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. increased their price target on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Finally, Barclays increased their price target on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.00.

Coca-Cola Europacific Partners Stock Up 3.0%

Shares of Coca-Cola Europacific Partners stock opened at $94.74 on Friday. Coca-Cola Europacific Partners has a 52 week low of $84.65 and a 52 week high of $110.90. The business has a 50 day moving average price of $94.01 and a 200-day moving average price of $94.25. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60.

Coca-Cola Europacific Partners Announces Dividend

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

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.