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

Pictet Asset Management Holding SA cut its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 4.3% during the third quarter, Holdings Channel.com reports. The firm owned 163,494 shares of the company’s stock after selling 7,302 shares during the period. Pictet Asset Management Holding SA’s holdings in Coca-Cola Europacific Partners were worth $16,632,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its position in Coca-Cola Europacific Partners by 56.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 3,322 shares of the company’s stock valued at $338,000 after acquiring an additional 1,195 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of Coca-Cola Europacific Partners in the 3rd quarter valued at $5,204,000. Provenance Wealth Advisors LLC raised its position in shares of Coca-Cola Europacific Partners by 17,913.6% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 3,963 shares of the company’s stock worth $403,000 after acquiring an additional 3,941 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Coca-Cola Europacific Partners in the 3rd quarter worth $20,412,000. Finally, ProShare Advisors LLC raised its position in shares of Coca-Cola Europacific Partners by 1.4% in the 3rd quarter. ProShare Advisors LLC now owns 420,424 shares of the company’s stock worth $42,761,000 after acquiring an additional 5,932 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

NASDAQ CCEP opened at $116.93 on Friday. The firm’s fifty day simple moving average is $107.44 and its two-hundred day simple moving average is $101.82. The company has a quick ratio of 0.68, a current ratio of 0.89 and a debt-to-equity ratio of 1.20. Coca-Cola Europacific Partners has a 12-month low of $84.65 and a 12-month high of $119.09.

Coca-Cola Europacific Partners Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CCEP. Barclays upped their price objective on Coca-Cola Europacific Partners from $112.00 to $124.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. UBS Group lifted their target price on Coca-Cola Europacific Partners from $107.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. ING Group downgraded shares of Coca-Cola Europacific Partners to a “hold” rating in a report on Friday, September 18th. JPMorgan Chase & Co. started coverage on shares of Coca-Cola Europacific Partners in a research report on Friday, September 4th. They set an “underweight” rating and a $92.00 price target for the company. Finally, Wells Fargo & Company increased their price target on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an “overweight” rating in a research report 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.33.

About Coca-Cola Europacific Partners

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.