AXQ Capital LP Acquires New Shares in Coca-Cola Europacific Partners $CCEP

AXQ Capital LP acquired a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 7,730 shares of the company’s stock, valued at approximately $701,000.

Other hedge funds have also bought and sold shares of the company. Fideuram Asset Management Ireland dac purchased a new position in Coca-Cola Europacific Partners in the 4th quarter valued at approximately $55,000. Geneos Wealth Management Inc. grew its position in shares of Coca-Cola Europacific Partners by 23.9% during the 1st 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. Brown Brothers Harriman & Co. grew its position in shares of Coca-Cola Europacific Partners by 18.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company’s stock valued at $92,000 after purchasing an additional 155 shares in the last quarter. Assetmark Inc. grew its position in shares of Coca-Cola Europacific Partners by 76.0% during the 3rd quarter. Assetmark Inc. now owns 1,051 shares of the company’s stock valued at $95,000 after purchasing an additional 454 shares in the last quarter. Finally, Maseco LLP grew its position in shares of Coca-Cola Europacific Partners by 20.6% during the 4th quarter. Maseco LLP now owns 1,123 shares of the company’s stock valued at $103,000 after purchasing an additional 192 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $91.00 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. The firm has a fifty day simple moving average of $94.00 and a two-hundred day simple moving average of $94.25. 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 declared a dividend, which was paid on Wednesday, May 27th. Shareholders 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 yield of 213.0%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. The Goldman Sachs Group lifted their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Evercore reaffirmed an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Finally, Weiss Ratings downgraded shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.