Coca-Cola Europacific Partners $CCEP Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 13.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 661,611 shares of the company’s stock after selling 106,341 shares during the quarter. Bank of New York Mellon Corp’s holdings in Coca-Cola Europacific Partners were worth $59,988,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CCEP. Bayban acquired a new position in Coca-Cola Europacific Partners in the fourth quarter worth about $25,000. Whipplewood Advisors LLC raised its stake in Coca-Cola Europacific Partners by 1,537.5% during the first quarter. Whipplewood Advisors LLC now owns 393 shares of the company’s stock valued at $36,000 after buying an additional 369 shares in the last quarter. Quarry LP lifted its holdings in Coca-Cola Europacific Partners by 59.1% during the 4th quarter. Quarry LP now owns 393 shares of the company’s stock worth $36,000 after buying an additional 146 shares during the last quarter. 1248 Management LLC bought a new position in Coca-Cola Europacific Partners during the 4th quarter worth approximately $38,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of Coca-Cola Europacific Partners by 83.3% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $40,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Down 2.1%

Shares of NASDAQ:CCEP opened at $103.62 on Friday. The company’s 50-day moving average price is $99.00 and its 200 day moving average price is $96.93. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week 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 company also recently declared a dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were paid a $0.82 dividend. The ex-dividend date was Friday, May 15th. This represents a dividend yield of 213.0%.

Analysts Set New Price Targets

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

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.