Goldman Sachs Group Inc. Lowers Stake in Coca-Cola Europacific Partners $CCEP

Goldman Sachs Group Inc. reduced its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,353,731 shares of the company’s stock after selling 494,038 shares during the quarter. Goldman Sachs Group Inc. owned 1.38% of Coca-Cola Europacific Partners worth $576,283,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CCEP. Norges Bank purchased a new position in Coca-Cola Europacific Partners in the 4th quarter valued at about $363,294,000. Invesco Ltd. lifted its stake in Coca-Cola Europacific Partners by 31.6% in the 3rd quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after buying an additional 3,751,430 shares in the last quarter. Bessemer Group Inc. lifted its stake in Coca-Cola Europacific Partners by 12,873.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock valued at $229,428,000 after buying an additional 2,518,085 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Coca-Cola Europacific Partners by 310.4% in the 3rd quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after buying an additional 1,762,299 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in 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 buying an additional 709,723 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCEP has been the topic of a number of research reports. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. Evercore reaffirmed an “outperform” rating and issued a $112.00 price target on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. The Goldman Sachs Group raised their price target on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. UBS Group raised their price target on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Barclays raised their price target on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $106.00.

Coca-Cola Europacific Partners Trading Up 1.5%

CCEP stock opened at $92.41 on Thursday. 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 has a 12 month low of $84.65 and a 12 month high of $110.90. The firm has a 50-day moving average of $93.98 and a two-hundred day moving average of $94.24.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were issued a $0.82 dividend. The ex-dividend date was Friday, May 15th. This represents a 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.