Royal London Asset Management Ltd. Raises Stake in Coca-Cola Europacific Partners $CCEP

Royal London Asset Management Ltd. lifted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 968,909 shares of the company’s stock after buying an additional 52,103 shares during the period. Royal London Asset Management Ltd. owned approximately 0.21% of Coca-Cola Europacific Partners worth $87,880,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CCEP. Invesco Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 31.6% during the 3rd quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock worth $1,411,334,000 after purchasing an additional 3,751,430 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,960,110 shares of the company’s stock worth $994,598,000 after purchasing an additional 278,083 shares in the last quarter. Boston Partners boosted its position in shares of Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Boston Partners now owns 6,266,512 shares of the company’s stock worth $566,051,000 after purchasing an additional 156,613 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Coca-Cola Europacific Partners by 0.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,873,922 shares of the company’s stock worth $532,765,000 after purchasing an additional 38,339 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Coca-Cola Europacific Partners by 0.7% during the 3rd quarter. State Street Corp now owns 4,760,094 shares of the company’s stock worth $430,360,000 after purchasing an additional 31,054 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock opened at $99.34 on Friday. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $110.90. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $94.56 and its 200-day simple moving average is $94.51.

Coca-Cola Europacific Partners Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on CCEP shares. Wells Fargo & Company began coverage on shares of Coca-Cola Europacific Partners in a research report on Friday. They set an “overweight” rating and a $110.00 target price on the stock. Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. Weiss Ratings cut shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, UBS Group increased their price objective on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.50.

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.