Coca-Cola Europacific Partners $CCEP Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 5.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 968,909 shares of the company’s stock after purchasing an additional 52,103 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Coca-Cola Europacific Partners were worth $87,880,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in Coca-Cola Europacific Partners by 10.5% in the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after purchasing an additional 677 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Coca-Cola Europacific Partners by 23.9% during the first 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. Marshall Wace LLP bought a new stake in shares of Coca-Cola Europacific Partners during the second quarter valued at about $653,000. Jump Financial LLC raised its position in Coca-Cola Europacific Partners by 18.8% in the second quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock worth $2,380,000 after acquiring an additional 4,059 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Coca-Cola Europacific Partners in the second quarter worth about $202,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCEP has been the topic of several research reports. Weiss Ratings cut shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. The Goldman Sachs Group boosted their price objective 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. Barclays boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective 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, Wells Fargo & Company started coverage on Coca-Cola Europacific Partners in a report on Friday. They set an “overweight” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Coca-Cola Europacific Partners Trading Up 1.7%

Shares of NASDAQ CCEP opened at $99.34 on Friday. The business has a 50 day simple moving average of $94.56 and a 200 day simple moving average of $94.51. Coca-Cola Europacific Partners has a 52 week low of $84.65 and a 52 week high of $110.90. 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 company also recently declared a dividend, which was paid on Wednesday, May 27th. Investors 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%.

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.