CIBC Asset Management Inc Purchases 6,706 Shares of Coca-Cola Europacific Partners $CCEP

CIBC Asset Management Inc lifted its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,520 shares of the company’s stock after buying an additional 6,706 shares during the period. CIBC Asset Management Inc’s holdings in Coca-Cola Europacific Partners were worth $10,478,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CCEP. Intech Investment Management LLC acquired a new position in Coca-Cola Europacific Partners in the 3rd quarter worth about $980,000. Vestcor Inc increased its holdings in Coca-Cola Europacific Partners by 14.4% in the 3rd quarter. Vestcor Inc now owns 80,665 shares of the company’s stock worth $7,293,000 after purchasing an additional 10,125 shares in the last quarter. NEOS Investment Management LLC increased its holdings in Coca-Cola Europacific Partners by 77.1% in the 3rd quarter. NEOS Investment Management LLC now owns 146,000 shares of the company’s stock worth $13,200,000 after purchasing an additional 63,554 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Coca-Cola Europacific Partners by 10.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 152,283 shares of the company’s stock worth $13,768,000 after purchasing an additional 13,800 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Coca-Cola Europacific Partners by 298.4% in the 4th quarter. M&T Bank Corp now owns 25,603 shares of the company’s stock worth $2,322,000 after purchasing an additional 19,176 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 3.0%

NASDAQ CCEP opened at $94.74 on Friday. The business’s 50-day moving average price is $94.01 and its two-hundred 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 firm also recently announced a dividend, which was paid on Wednesday, May 27th. Investors 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 analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and issued a $112.00 target price on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Weiss Ratings lowered Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Barclays upped their price target on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.