Fisher Funds Management LTD Has $5.05 Million Stake in Coca-Cola Europacific Partners $CCEP

Fisher Funds Management LTD trimmed its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 13.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,757 shares of the company’s stock after selling 8,952 shares during the quarter. Fisher Funds Management LTD’s holdings in Coca-Cola Europacific Partners were worth $5,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its position in Coca-Cola Europacific Partners by 10.5% in the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock worth $621,000 after buying an additional 677 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings 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 acquiring an additional 156 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Coca-Cola Europacific Partners in the second quarter worth $653,000. Jump Financial LLC raised its holdings in shares of Coca-Cola Europacific Partners by 18.8% during the second quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock worth $2,380,000 after acquiring an additional 4,059 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Coca-Cola Europacific Partners during the second quarter worth $202,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on CCEP. UBS Group boosted their target price on 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. Weiss Ratings downgraded Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Barclays lifted their price target on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company initiated coverage on Coca-Cola Europacific Partners in a research note on Friday, June 12th. They issued an “overweight” rating and a $110.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP opened at $96.93 on Monday. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90. 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 company’s 50 day moving average is $94.98 and its 200-day moving average is $94.77.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently disclosed 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. This represents a dividend yield of 213.0%. The ex-dividend date of this dividend was Friday, May 15th.

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.