Coca-Cola Europacific Partners $CCEP Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lowered its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 21.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,000,174 shares of the company’s stock after selling 537,472 shares during the quarter. Bessemer Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $181,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC raised its holdings in Coca-Cola Europacific Partners by 1.9% during the fourth quarter. Park Avenue Securities LLC now owns 6,373 shares of the company’s stock worth $578,000 after purchasing an additional 119 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Coca-Cola Europacific Partners by 2.9% during the third quarter. Concurrent Investment Advisors LLC now owns 4,323 shares of the company’s stock worth $391,000 after purchasing an additional 123 shares in the last quarter. Howard Capital Management Inc. raised its holdings in Coca-Cola Europacific Partners by 2.9% during the fourth quarter. Howard Capital Management Inc. now owns 4,451 shares of the company’s stock worth $404,000 after purchasing an additional 125 shares in the last quarter. Aaron Wealth Advisors LLC raised its holdings in Coca-Cola Europacific Partners by 5.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,728 shares of the company’s stock worth $247,000 after purchasing an additional 129 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Coca-Cola Europacific Partners by 8.7% during the third quarter. Versant Capital Management Inc now owns 1,658 shares of the company’s stock worth $150,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. The Goldman Sachs Group lifted their target price on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Evercore reaffirmed an “outperform” rating and issued a $112.00 target price on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Coca-Cola Europacific Partners Stock Down 0.6%

Shares of Coca-Cola Europacific Partners stock opened at $90.83 on Friday. The firm’s fifty day simple moving average is $95.89 and its 200-day simple moving average is $94.00. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90. 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 Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be issued a $0.82 dividend. This represents a dividend yield of 210.0%. The ex-dividend date of this dividend is Friday, May 15th.

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.