CI Investments Inc. Boosts Stock Holdings in Coca-Cola Europacific Partners $CCEP

CI Investments Inc. grew its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 283,508 shares of the company’s stock after purchasing an additional 5,109 shares during the period. CI Investments Inc. owned approximately 0.06% of Coca-Cola Europacific Partners worth $25,706,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Boston Partners lifted its position in shares of Coca-Cola Europacific Partners by 2.6% during the third quarter. Boston Partners now owns 6,266,512 shares of the company’s stock worth $566,051,000 after acquiring an additional 156,613 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Coca-Cola Europacific Partners by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,873,922 shares of the company’s stock valued at $532,765,000 after purchasing an additional 38,339 shares in the last quarter. State Street Corp raised its stake in shares of Coca-Cola Europacific Partners by 0.7% during the 3rd quarter. State Street Corp now owns 4,760,094 shares of the company’s stock valued at $430,360,000 after purchasing an additional 31,054 shares during the period. Norges Bank purchased a new stake in Coca-Cola Europacific Partners during the 4th quarter worth about $363,294,000. Finally, FIL Ltd lifted its holdings in Coca-Cola Europacific Partners by 0.3% during the 4th quarter. FIL Ltd now owns 3,793,166 shares of the company’s stock worth $344,312,000 after purchasing an additional 10,801 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. UBS Group increased their price target on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. Finally, Weiss Ratings lowered shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Eight 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.88.

Coca-Cola Europacific Partners Stock Up 0.7%

Shares of NASDAQ CCEP opened at $105.88 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 stock’s 50-day simple moving average is $98.74 and its two-hundred day simple moving average is $96.82. Coca-Cola Europacific Partners has a twelve month low of $84.65 and a twelve month high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a dividend yield of 213.0%.

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.