Massachusetts Financial Services Co. MA Buys 3,392,680 Shares of Coca-Cola Europacific Partners $CCEP

Massachusetts Financial Services Co. MA increased its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 138.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,835,583 shares of the company’s stock after purchasing an additional 3,392,680 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.27% of Coca-Cola Europacific Partners worth $527,595,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 10.5% in the first 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 stake in Coca-Cola Europacific Partners by 23.9% during the first 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. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Coca-Cola Europacific Partners by 22.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,839 shares of the company’s stock worth $2,303,000 after acquiring an additional 4,480 shares during the period. Swedbank AB lifted its stake in Coca-Cola Europacific Partners by 1.3% in the 2nd quarter. Swedbank AB now owns 176,819 shares of the company’s stock worth $16,395,000 after purchasing an additional 2,219 shares in the last quarter. Finally, Fulton Bank N.A. lifted its stake in Coca-Cola Europacific Partners by 5.6% in the 2nd quarter. Fulton Bank N.A. now owns 3,540 shares of the company’s stock worth $328,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 0.1%

NASDAQ:CCEP opened at $89.29 on Monday. The business has a 50 day moving average of $90.47 and a 200 day moving average of $91.27. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. Coca-Cola Europacific Partners has a 1-year low of $76.04 and a 1-year high of $100.67.

Coca-Cola Europacific Partners Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, December 3rd. Investors of record on Friday, November 14th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a dividend yield of 277.0%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CCEP shares. Citigroup reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday, January 9th. Barclays restated an “overweight” rating and issued a $101.00 target price on shares of Coca-Cola Europacific Partners in a research note on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, October 30th. Bank of America restated a “neutral” rating and issued a $96.00 price objective (down from $102.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $114.00 target price on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.80.

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.