Nordea Investment Management AB Reduces Holdings in Coca-Cola Europacific Partners $CCEP

Nordea Investment Management AB reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 5.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,170,968 shares of the company’s stock after selling 68,289 shares during the period. Nordea Investment Management AB’s holdings in Coca-Cola Europacific Partners were worth $106,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in Coca-Cola Europacific Partners during the 2nd quarter valued at approximately $381,335,000. Invesco Ltd. grew its holdings in shares of Coca-Cola Europacific Partners by 14.7% during the second quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock valued at $1,099,562,000 after buying an additional 1,523,055 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 8.1% during the second quarter. Vanguard Group Inc. now owns 10,682,027 shares of the company’s stock valued at $984,804,000 after buying an additional 798,427 shares during the last quarter. Bank of America Corp DE increased its position in shares of Coca-Cola Europacific Partners by 32.8% in the 2nd quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock valued at $266,158,000 after acquiring an additional 709,723 shares during the period. Finally, Man Group plc raised its stake in Coca-Cola Europacific Partners by 219.8% in the 2nd quarter. Man Group plc now owns 1,001,770 shares of the company’s stock worth $92,884,000 after acquiring an additional 688,506 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 1.8%

Shares of Coca-Cola Europacific Partners stock opened at $89.47 on Wednesday. The firm has a 50-day simple moving average of $90.49 and a two-hundred day simple moving average of $91.36. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a fifty-two week low of $73.78 and a fifty-two week high of $100.67.

Coca-Cola Europacific Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a report on Thursday, January 8th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday. Finally, UBS Group reduced their price target on shares of Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.50.

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.