Epoch Investment Partners Inc. Decreases Stake in Coca-Cola Europacific Partners $CCEP

Epoch Investment Partners Inc. reduced its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 6.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,087,256 shares of the company’s stock after selling 76,878 shares during the period. Epoch Investment Partners Inc.’s holdings in Coca-Cola Europacific Partners were worth $98,614,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in Coca-Cola Europacific Partners by 10.5% during the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock valued at $621,000 after purchasing an additional 677 shares during the period. Geneos Wealth Management Inc. raised its position 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 purchasing an additional 156 shares during the period. Marshall Wace LLP purchased a new stake in Coca-Cola Europacific Partners during the second quarter valued at approximately $653,000. Jump Financial LLC raised its position in Coca-Cola Europacific Partners by 18.8% during the second quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock valued at $2,380,000 after purchasing an additional 4,059 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in Coca-Cola Europacific Partners during the second quarter valued at approximately $202,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Barclays upped their price objective on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company assumed coverage on Coca-Cola Europacific Partners in a research report on Friday. They set an “overweight” rating and a $110.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Evercore restated an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $99.34 on Friday. The stock’s 50 day moving average price is $94.56 and its 200-day moving average price is $94.51. Coca-Cola Europacific Partners has a one year low of $84.65 and a one year 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 was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a dividend of $0.82 per share. 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.