iA Global Asset Management Inc. Reduces Stock Position in Coca-Cola Europacific Partners $CCEP

iA Global Asset Management Inc. lessened its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 18.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,995 shares of the company’s stock after selling 12,248 shares during the quarter. iA Global Asset Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $4,986,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Bayban purchased a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth $25,000. Quarry LP grew its holdings in shares of Coca-Cola Europacific Partners by 59.1% in the fourth quarter. Quarry LP now owns 393 shares of the company’s stock valued at $36,000 after purchasing an additional 146 shares during the period. 1248 Management LLC purchased a new position in Coca-Cola Europacific Partners during the fourth quarter worth about $38,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Coca-Cola Europacific Partners by 83.3% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $40,000 after purchasing an additional 200 shares during the period. Finally, Fideuram Asset Management Ireland dac acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at about $55,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CCEP. UBS Group increased their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Barclays lifted their target price 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. 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 on the stock. Finally, Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $106.50.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $106.10 on Thursday. The stock’s 50-day moving average price is $95.47 and its 200 day moving average price is $95.31. 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.

Coca-Cola Europacific Partners Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were paid a dividend of $0.82 per share. The ex-dividend date was Friday, May 15th. This represents a yield of 213.0%.

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.