Bank of America Corp DE Purchases 109,658 Shares of Coca-Cola Europacific Partners PLC (NYSE:CCEP)

Posted by Defense World Staff on Jun 4th, 2023

Bank of America Corp DE boosted its position in shares of Coca-Cola Europacific Partners PLC (NYSE:CCEP – Get Rating) by 7.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,555,109 shares of the company’s stock after buying an additional 109,658 shares during the quarter. Bank of America Corp DE owned approximately 0.34% of Coca-Cola Europacific Partners worth $86,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Coca-Cola Europacific Partners by 5.0% during the 1st quarter. BlackRock Inc. now owns 14,447,992 shares of the company’s stock valued at $702,316,000 after buying an additional 685,745 shares during the last quarter. Ninety One UK Ltd raised its holdings in Coca-Cola Europacific Partners by 9.9% during the 4th quarter. Ninety One UK Ltd now owns 5,094,317 shares of the company’s stock valued at $281,818,000 after buying an additional 460,302 shares during the last quarter. State Street Corp raised its holdings in Coca-Cola Europacific Partners by 8.2% during the 3rd quarter. State Street Corp now owns 4,412,529 shares of the company’s stock valued at $188,062,000 after buying an additional 333,403 shares during the last quarter. Wellington Management Group LLP raised its holdings in Coca-Cola Europacific Partners by 20.0% during the 1st quarter. Wellington Management Group LLP now owns 3,865,724 shares of the company’s stock valued at $187,912,000 after buying an additional 643,635 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Coca-Cola Europacific Partners by 16.2% in the 4th quarter. Nordea Investment Management AB now owns 3,428,149 shares of the company’s stock worth $188,720,000 after purchasing an additional 476,956 shares in the last quarter. 28.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCEP has been the subject of several research reports. Barclays upped their price objective on shares of Coca-Cola Europacific Partners from $73.00 to $75.00 in a report on Thursday, April 27th. Credit Suisse Group upped their price objective on shares of Coca-Cola Europacific Partners to €65.00 ($69.89) in a report on Wednesday, April 26th. StockNews.com lowered shares of Coca-Cola Europacific Partners from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 11th. Societe Generale upgraded shares of Coca-Cola Europacific Partners from a “sell” rating to a “hold” rating and set a $61.15 price objective for the company in a report on Wednesday, April 26th. Finally, Argus increased their price target on shares of Coca-Cola Europacific Partners from $62.00 to $72.00 in a research note on Friday, May 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.09.

Coca-Cola Europacific Partners Stock Up 1.2 %

NYSE:CCEP opened at $63.48 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.71 and a current ratio of 0.89. Coca-Cola Europacific Partners PLC has a fifty-two week low of $41.80 and a fifty-two week high of $66.79. The firm has a 50-day simple moving average of $62.48 and a two-hundred day simple moving average of $57.58.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, May 25th. Shareholders of record on Friday, May 12th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a yield of 2.6%.

Coca-Cola Europacific Partners Profile

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Coca-Cola Europacific Partners plc engages in the distribution and sale of non-alcoholic ready to drink beverages. It operates through the following geographical segments: Iberia, Germany, Great Britain, France, Belgium/Luxembourg, Netherlands, Norway, Sweden, and Iceland. The company was founded on August 4, 2015 and is headquartered in Uxbridge, the United Kingdom.