Coca-Cola Europacific Partners $CCEP Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163,494 shares of the company’s stock after selling 7,302 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Coca-Cola Europacific Partners were worth $16,632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Rakuten Investment Management Inc. bought a new position in Coca-Cola Europacific Partners in the 3rd quarter valued at $5,204,000. National Pension Service increased its stake in Coca-Cola Europacific Partners by 23.6% in the second quarter. National Pension Service now owns 65,302 shares of the company’s stock worth $6,535,000 after purchasing an additional 12,468 shares during the period. SEB Asset Management AB purchased a new stake in Coca-Cola Europacific Partners in the first quarter worth $6,759,000. NEOS Investment Management LLC lifted its position in shares of Coca-Cola Europacific Partners by 12.0% during the second quarter. NEOS Investment Management LLC now owns 273,000 shares of the company’s stock worth $27,319,000 after purchasing an additional 29,318 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Coca-Cola Europacific Partners by 157.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 493,118 shares of the company’s stock worth $44,715,000 after purchasing an additional 301,910 shares during the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Down 0.8%

Shares of CCEP stock opened at $116.93 on Friday. Coca-Cola Europacific Partners has a twelve month low of $84.65 and a twelve month high of $119.09. The stock has a fifty day simple moving average of $107.44 and a two-hundred day simple moving average of $101.82. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20.

Coca-Cola Europacific Partners Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be issued a €1.42 dividend. This represents a dividend yield of 286.0%. The ex-dividend date is Friday, November 20th.

Wall Street Analyst Weigh In

CCEP has been the topic of a number of research analyst reports. Deutsche Bank restated a “buy” rating and issued a $114.00 price target (up from $110.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, September 16th. Barclays lifted their price objective on shares of Coca-Cola Europacific Partners from $112.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. JPMorgan Chase & Co. initiated coverage on shares of Coca-Cola Europacific Partners in a research report on Friday, September 4th. They issued an “underweight” rating and a $92.00 price objective for the company. ING Group downgraded shares of Coca-Cola Europacific Partners to a “hold” rating in a research note on Friday, September 18th. Finally, Wells Fargo & Company upped their target price on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and an average target price of $110.33.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners (CCEP) is a beverage company that manufactures, sells and distributes products under The Coca-Cola Company’s brands. Its portfolio includes Coca-Cola, Fanta and Sprite, as well as water, sports drinks, energy drinks, juices and ready-to-drink tea and coffee. CCEP serves customers across markets in Western Europe and the Asia-Pacific region, including Australia, New Zealand and parts of Southeast Asia. The company was formed in 2016 through the combination of Coca-Cola bottling operations in Europe and expanded into the Asia-Pacific region with its 2021 acquisition of Coca-Cola Amatil.