TD Asset Management Inc Boosts Holdings in Coca-Cola Europacific Partners $CCEP

TD Asset Management Inc lifted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 4.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 648,833 shares of the company’s stock after acquiring an additional 26,523 shares during the period. TD Asset Management Inc’s holdings in Coca-Cola Europacific Partners were worth $58,849,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Invesco Ltd. grew its position in shares of Coca-Cola Europacific Partners by 31.6% in the 3rd quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after buying an additional 3,751,430 shares during the last quarter. Vanguard Group Inc. grew its position in Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,960,110 shares of the company’s stock worth $994,598,000 after purchasing an additional 278,083 shares during the last quarter. Boston Partners grew its position in Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Boston Partners now owns 6,266,512 shares of the company’s stock worth $566,051,000 after purchasing an additional 156,613 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Coca-Cola Europacific Partners by 0.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,873,922 shares of the company’s stock worth $532,765,000 after purchasing an additional 38,339 shares during the last quarter. Finally, State Street Corp grew its position in Coca-Cola Europacific Partners by 0.7% during the 3rd quarter. State Street Corp now owns 4,760,094 shares of the company’s stock worth $430,360,000 after purchasing an additional 31,054 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CCEP shares. Barclays raised 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 report on Thursday, April 30th. Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. UBS Group raised their price objective on shares of 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. Weiss Ratings downgraded shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Coca-Cola Europacific Partners Trading Up 3.0%

Shares of NASDAQ:CCEP opened at $94.74 on Friday. The firm’s 50-day simple moving average is $94.01 and its 200-day simple moving average is $94.25. 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 has a fifty-two week low of $84.65 and a fifty-two week high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were issued a $0.82 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a dividend 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.