Truist Financial Corp Increases Stock Holdings in Coca-Cola Europacific Partners $CCEP

Truist Financial Corp increased its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 10,480.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,756,043 shares of the company’s stock after purchasing an additional 4,711,093 shares during the quarter. Truist Financial Corp owned 1.03% of Coca-Cola Europacific Partners worth $429,994,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. J. Safra Sarasin Holding AG boosted its holdings in shares of Coca-Cola Europacific Partners by 22.4% in the third quarter. J. Safra Sarasin Holding AG now owns 147,838 shares of the company’s stock valued at $13,366,000 after acquiring an additional 27,093 shares during the period. First Command Advisory Services Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 1,800.0% in the third quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock worth $33,000 after acquiring an additional 342 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Coca-Cola Europacific Partners by 0.9% during the third quarter. Retirement Systems of Alabama now owns 69,404 shares of the company’s stock valued at $6,275,000 after buying an additional 600 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Coca-Cola Europacific Partners by 0.5% in the third quarter. Resona Asset Management Co. Ltd. now owns 63,848 shares of the company’s stock valued at $5,772,000 after purchasing an additional 309 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Coca-Cola Europacific Partners by 14.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 132,134 shares of the company’s stock worth $11,946,000 after purchasing an additional 16,611 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $114.00 price target on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. UBS Group dropped their price target on Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, January 9th. Bank of America reiterated a “neutral” rating and issued a $96.00 price target (down from $102.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.80.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $90.77 on Wednesday. The stock’s 50 day moving average price is $90.25 and its two-hundred day moving average price is $90.96. Coca-Cola Europacific Partners has a 12-month low of $76.97 and a 12-month high of $100.67. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15.

Coca-Cola Europacific Partners Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Friday, November 14th were given a dividend of $1.25 per share. The ex-dividend date was Friday, November 14th. This represents a dividend yield of 277.0%.

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.