Northwestern Mutual Wealth Management Co. Has $6.83 Million Stock Holdings in Coca-Cola Europacific Partners $CCEP

Northwestern Mutual Wealth Management Co. increased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 557.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,249 shares of the company’s stock after buying an additional 63,796 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Coca-Cola Europacific Partners were worth $6,825,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CCEP. Truist Financial Corp grew its position in Coca-Cola Europacific Partners by 10,480.7% during the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock worth $429,994,000 after buying an additional 4,711,093 shares in the last quarter. Invesco Ltd. grew its position in Coca-Cola Europacific Partners by 31.6% during the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock worth $1,411,334,000 after buying an additional 3,751,430 shares in the last quarter. Bessemer Group Inc. grew its position in Coca-Cola Europacific Partners by 12,873.0% during the third quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock worth $229,428,000 after buying an additional 2,518,085 shares in the last quarter. Lazard Asset Management LLC grew its position in Coca-Cola Europacific Partners by 310.4% during the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock worth $210,802,000 after buying an additional 1,762,299 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Coca-Cola Europacific Partners by 32.8% during the second quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock worth $266,158,000 after buying an additional 709,723 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CCEP. Barclays lifted their target price on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. UBS Group lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective 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. Evercore reaffirmed an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Finally, Weiss Ratings downgraded 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 assigned a Hold rating to the stock. Based on data from MarketBeat, 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 0.0%

NASDAQ CCEP opened at $94.12 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average is $94.77 and its two-hundred day moving average is $94.08. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be issued a $0.82 dividend. This represents a dividend yield of 213.0%. 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.