Hsbc Holdings PLC Sells 391,670 Shares of Coca-Cola Europacific Partners $CCEP

Hsbc Holdings PLC cut its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 77.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,139 shares of the company’s stock after selling 391,670 shares during the period. Hsbc Holdings PLC’s holdings in Coca-Cola Europacific Partners were worth $10,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bayban acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $25,000. EJMK Ventures LLC acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at $497,000. Caitong International Asset Management Co. Ltd increased its position in Coca-Cola Europacific Partners by 123.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,121 shares of the company’s stock worth $102,000 after buying an additional 620 shares during the period. Clearwave Capital LLC acquired a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter worth $222,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 4.3% during the fourth quarter. Pacer Advisors Inc. now owns 35,146 shares of the company’s stock worth $3,188,000 after buying an additional 1,459 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

CCEP opened at $99.60 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $110.90. The business’s fifty day moving average is $95.06 and its 200-day moving average is $94.96.

Coca-Cola Europacific Partners Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings downgraded shares of 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 objective on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company started coverage on shares of Coca-Cola Europacific Partners in a research report on Friday, June 12th. They set an “overweight” rating and a $110.00 target price on the stock. Finally, UBS Group lifted 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 report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

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.