Resona Asset Management Co. Ltd. Sells 9,959 Shares of Coca-Cola Europacific Partners $CCEP

Resona Asset Management Co. Ltd. trimmed its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 15.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 53,889 shares of the company’s stock after selling 9,959 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Coca-Cola Europacific Partners were worth $4,888,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CCEP. Truist Financial Corp increased its holdings in Coca-Cola Europacific Partners by 10,480.7% in the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after purchasing an additional 4,711,093 shares during the period. Invesco Ltd. increased its holdings in Coca-Cola Europacific Partners by 31.6% in the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after purchasing an additional 3,751,430 shares during the period. Bessemer Group Inc. increased its holdings in Coca-Cola Europacific Partners by 12,873.0% in the third quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock valued at $229,428,000 after purchasing an additional 2,518,085 shares during the period. Lazard Asset Management LLC increased its holdings in Coca-Cola Europacific Partners by 310.4% in the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after purchasing an additional 1,762,299 shares during the period. Finally, Bank of America Corp DE increased its holdings in Coca-Cola Europacific Partners by 32.8% in the second quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock valued at $266,158,000 after purchasing an additional 709,723 shares during the period. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CCEP. The Goldman Sachs Group increased their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Evercore restated an “outperform” rating and issued a $112.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Barclays increased their price objective on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings downgraded Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Coca-Cola Europacific Partners Stock Performance

CCEP stock opened at $94.12 on Friday. The company’s 50-day moving average is $94.77 and its 200-day moving average is $94.08. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be given a dividend of $0.82 per share. This represents a dividend yield of 213.0%. The ex-dividend date of this dividend is Friday, May 15th.

Coca-Cola Europacific Partners Company 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.