Massachusetts Financial Services Co. MA Buys 3,392,680 Shares of Coca-Cola Europacific Partners $CCEP

Massachusetts Financial Services Co. MA lifted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 138.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,835,583 shares of the company’s stock after buying an additional 3,392,680 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Coca-Cola Europacific Partners were worth $527,595,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Mather Group LLC. bought a new position in shares of Coca-Cola Europacific Partners in the third quarter worth approximately $31,000. First Horizon Advisors Inc. boosted its position in Coca-Cola Europacific Partners by 61.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $34,000 after buying an additional 138 shares during the period. Westerkirk Capital Inc. bought a new stake in Coca-Cola Europacific Partners in the 2nd quarter worth $37,000. MAI Capital Management increased its position in shares of Coca-Cola Europacific Partners by 113.4% in the second quarter. MAI Capital Management now owns 414 shares of the company’s stock valued at $38,000 after acquiring an additional 220 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Coca-Cola Europacific Partners by 125.3% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 446 shares of the company’s stock valued at $40,000 after acquiring an additional 248 shares during the period. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CCEP shares. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday, January 9th. Barclays reaffirmed an “overweight” rating and set a $101.00 price target on shares of Coca-Cola Europacific Partners in a research report on Friday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, October 30th. Finally, UBS Group decreased their target price on Coca-Cola Europacific Partners from $105.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.80.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $89.29 on Monday. Coca-Cola Europacific Partners has a fifty-two week low of $76.04 and a fifty-two week high of $100.67. The stock’s 50 day simple moving average is $90.47 and its two-hundred day simple moving average is $91.27. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15.

Coca-Cola Europacific Partners Dividend Announcement

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

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.