iA Global Asset Management Inc. Cuts Stock Holdings in Coca-Cola Europacific Partners $CCEP

iA Global Asset Management Inc. reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 18.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,995 shares of the company’s stock after selling 12,248 shares during the period. iA Global Asset Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $4,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCEP. MQS Management LLC purchased a new stake in Coca-Cola Europacific Partners during the 1st quarter worth about $234,000. Lansforsakringar Fondforvaltning AB publ boosted its stake in shares of Coca-Cola Europacific Partners by 2.6% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 84,984 shares of the company’s stock valued at $7,705,000 after buying an additional 2,123 shares during the period. Princeton Global Asset Management LLC boosted its stake in shares of Coca-Cola Europacific Partners by 0.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 91,413 shares of the company’s stock valued at $8,288,000 after buying an additional 564 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Coca-Cola Europacific Partners by 15.7% during the first quarter. Janney Montgomery Scott LLC now owns 11,314 shares of the company’s stock worth $1,026,000 after buying an additional 1,533 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Coca-Cola Europacific Partners by 0.8% during the first quarter. Pictet Asset Management Holding SA now owns 167,276 shares of the company’s stock worth $15,177,000 after buying an additional 1,347 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Coca-Cola Europacific Partners in a report on Friday, June 12th. They issued an “overweight” rating and a $110.00 price objective on the stock. Weiss Ratings lowered Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Barclays raised their price target on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, UBS Group lifted their price target on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Coca-Cola Europacific Partners Trading Up 6.0%

Shares of Coca-Cola Europacific Partners stock opened at $106.10 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The company has a fifty day simple moving average of $95.47 and a 200-day simple moving average of $95.31. Coca-Cola Europacific Partners has a 12-month low of $84.65 and a 12-month high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

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

Coca-Cola Europacific Partners Company 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.