State of New Jersey Common Pension Fund D Has $8.61 Million Position in Coca-Cola Europacific Partners $CCEP

State of New Jersey Common Pension Fund D reduced its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,965 shares of the company’s stock after selling 10,300 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Coca-Cola Europacific Partners were worth $8,613,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CCEP. Truist Financial Corp boosted its position in shares of Coca-Cola Europacific Partners by 10,480.7% during the 3rd quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after acquiring an additional 4,711,093 shares in the last quarter. Invesco Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 31.6% during the 3rd quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after acquiring an additional 3,751,430 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Coca-Cola Europacific Partners by 138.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock valued at $527,595,000 after acquiring an additional 3,392,680 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Coca-Cola Europacific Partners by 12,873.0% during the 3rd quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock valued at $229,428,000 after acquiring an additional 2,518,085 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Coca-Cola Europacific Partners by 310.4% during the 3rd quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after acquiring an additional 1,762,299 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Evercore reiterated an “outperform” rating and set a $112.00 target price on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Bank of America reissued a “neutral” rating and set a $96.00 price target (down from $102.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, January 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. 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, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Coca-Cola Europacific Partners Stock Down 0.4%

Shares of CCEP stock opened at $94.18 on Friday. Coca-Cola Europacific Partners has a 12-month low of $84.65 and a 12-month high of $110.90. The firm has a 50-day moving average price of $98.21 and a 200 day moving average price of $93.84. 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 Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 15th will be issued a dividend of $0.82 per share. This represents a yield of 197.0%. The ex-dividend date of this dividend is Friday, May 15th.

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.