Bailard Inc. Buys New Position in Coca-Cola Europacific Partners $CCEP

Bailard Inc. purchased a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 22,504 shares of the company’s stock, valued at approximately $2,035,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Coca-Cola Europacific Partners during the second quarter worth $381,335,000. Massachusetts Financial Services Co. MA boosted its position in Coca-Cola Europacific Partners by 138.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock valued at $527,595,000 after acquiring an additional 3,392,680 shares during the last quarter. Invesco Ltd. grew its holdings in Coca-Cola Europacific Partners by 14.7% during the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock worth $1,099,562,000 after acquiring an additional 1,523,055 shares during the period. Vanguard Group Inc. raised its position in shares of Coca-Cola Europacific Partners by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 10,682,027 shares of the company’s stock worth $984,804,000 after acquiring an additional 798,427 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Coca-Cola Europacific Partners by 32.8% in the 2nd quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock valued at $266,158,000 after purchasing an additional 709,723 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays reaffirmed an “overweight” rating and set a $101.00 target price on shares of Coca-Cola Europacific Partners in a research note on Friday, January 16th. UBS Group reduced their price objective on shares of Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, October 30th. Finally, Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday, January 9th. Six 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.80.

Coca-Cola Europacific Partners Stock Performance

CCEP stock opened at $89.55 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. Coca-Cola Europacific Partners has a twelve month low of $76.04 and a twelve month high of $100.67. The stock’s 50 day moving average is $90.30 and its 200-day moving average is $91.16.

Coca-Cola Europacific Partners Announces Dividend

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

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.