Geode Capital Management LLC Decreases Position in Coca-Cola Europacific Partners $CCEP

Geode Capital Management LLC lessened its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,301,299 shares of the company’s stock after selling 136,037 shares during the period. Geode Capital Management LLC owned approximately 0.50% of Coca-Cola Europacific Partners worth $207,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCEP. Geneos Wealth Management Inc. boosted its position in Coca-Cola Europacific Partners by 23.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after buying an additional 156 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Coca-Cola Europacific Partners by 18.0% in 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. raised its holdings in shares of Coca-Cola Europacific Partners by 76.0% in 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. Maseco LLP raised its holdings in shares of Coca-Cola Europacific Partners by 20.6% in 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. Finally, CWM LLC raised its holdings in shares of Coca-Cola Europacific Partners by 11.1% in the 4th quarter. CWM LLC now owns 1,370 shares of the company’s stock valued at $124,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Up 1.5%

Shares of NASDAQ:CCEP opened at $91.00 on Wednesday. The company’s fifty day moving average price is $94.00 and its 200 day moving average price is $94.25. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23.

Coca-Cola Europacific Partners Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CCEP shares. 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. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. UBS Group raised their price objective on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

About Coca-Cola Europacific Partners

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.