Aristotle Capital Management LLC Cuts Stock Holdings in Coca-Cola Europacific Partners $CCEP

Aristotle Capital Management LLC decreased its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,834,647 shares of the company’s stock after selling 26,534 shares during the quarter. Aristotle Capital Management LLC’s holdings in Coca-Cola Europacific Partners were worth $166,351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Coca-Cola Europacific Partners during the fourth quarter valued at about $363,294,000. Lazard Asset Management LLC increased its position in shares of Coca-Cola Europacific Partners by 310.4% during the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after acquiring an additional 1,762,299 shares during the last quarter. Bank of America Corp DE lifted its holdings in Coca-Cola Europacific Partners by 32.8% during the second quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock worth $266,158,000 after acquiring an additional 709,723 shares during the period. Man Group plc boosted its position in Coca-Cola Europacific Partners by 219.8% in the second quarter. Man Group plc now owns 1,001,770 shares of the company’s stock worth $92,884,000 after purchasing an additional 688,506 shares during the last quarter. Finally, Danske Bank A S purchased a new position in Coca-Cola Europacific Partners in the third quarter worth $29,718,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. Barclays boosted their price target on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings lowered shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. UBS Group raised their price objective on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus price target of $107.88.

Coca-Cola Europacific Partners Trading Up 1.4%

Coca-Cola Europacific Partners stock opened at $105.11 on Friday. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90. The firm’s fifty day moving average price is $99.31 and its 200-day moving average price is $96.99. The company has a quick ratio of 0.60, a current ratio of 0.80 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. Shareholders of record on Friday, May 15th were paid a $0.82 dividend. This represents a yield of 213.0%. The ex-dividend date was Friday, May 15th.

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.