ProShare Advisors LLC Grows Position in Coca-Cola Europacific Partners $CCEP

ProShare Advisors LLC lifted its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 42.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 711,818 shares of the company’s stock after purchasing an additional 210,554 shares during the quarter. ProShare Advisors LLC owned about 0.15% of Coca-Cola Europacific Partners worth $64,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CCEP. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 13.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,094 shares of the company’s stock worth $11,129,000 after purchasing an additional 14,670 shares during the period. Intech Investment Management LLC purchased a new position in shares of Coca-Cola Europacific Partners during the 3rd quarter worth approximately $980,000. Vestcor Inc boosted its position in shares of Coca-Cola Europacific Partners by 14.4% during the 3rd quarter. Vestcor Inc now owns 80,665 shares of the company’s stock worth $7,293,000 after purchasing an additional 10,125 shares during the period. iA Global Asset Management Inc. boosted its position in shares of Coca-Cola Europacific Partners by 11.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 124,169 shares of the company’s stock worth $11,226,000 after purchasing an additional 13,135 shares during the period. Finally, NEOS Investment Management LLC boosted its position in shares of Coca-Cola Europacific Partners by 77.1% during the 3rd quarter. NEOS Investment Management LLC now owns 146,000 shares of the company’s stock worth $13,200,000 after purchasing an additional 63,554 shares during the period. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $91.86 on Wednesday. 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 has a 52 week low of $84.65 and a 52 week high of $110.90. The firm has a 50 day moving average of $95.23 and a two-hundred day moving average of $94.02.

Coca-Cola Europacific Partners Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. raised their target price on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. UBS Group raised their target price on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Barclays raised their target price on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.