Boston Partners Sells 116,343 Shares of Coca-Cola Europacific Partners $CCEP

Boston Partners lowered its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,150,169 shares of the company’s stock after selling 116,343 shares during the quarter. Boston Partners owned 1.33% of Coca-Cola Europacific Partners worth $557,622,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in Coca-Cola Europacific Partners in the third quarter valued at approximately $980,000. Vestcor Inc boosted its stake in Coca-Cola Europacific Partners by 14.4% in the 3rd quarter. Vestcor Inc now owns 80,665 shares of the company’s stock valued at $7,293,000 after purchasing an additional 10,125 shares during the period. NEOS Investment Management LLC boosted its stake 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 valued at $13,200,000 after purchasing an additional 63,554 shares during the period. Public Sector Pension Investment Board grew its position in shares of Coca-Cola Europacific Partners by 10.0% during 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 grew its position in shares of Coca-Cola Europacific Partners by 298.4% during 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.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. UBS Group lifted their target price on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Wells Fargo & Company began coverage on shares of Coca-Cola Europacific Partners in a research report on Friday. They set an “overweight” rating and a $110.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Coca-Cola Europacific Partners Trading Up 1.7%

CCEP opened at $99.34 on Friday. The business’s 50-day moving average price is $94.56 and its 200-day moving average price is $94.51. 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 Dividend Announcement

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

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.