Korea Investment CORP Decreases Stake in Coca-Cola Europacific Partners PLC (NYSE:CCEP)

Posted by Defense World Staff on Jun 5th, 2023

Korea Investment CORP cut its holdings in Coca-Cola Europacific Partners PLC (NYSE:CCEP – Get Rating) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,193 shares of the company’s stock after selling 13,295 shares during the quarter. Korea Investment CORP’s holdings in Coca-Cola Europacific Partners were worth $3,053,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in Coca-Cola Europacific Partners by 598.0% during the third quarter. Macquarie Group Ltd. now owns 73,979 shares of the company’s stock worth $3,153,000 after purchasing an additional 63,381 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 8.8% in the third quarter. BlackRock Inc. now owns 14,226,512 shares of the company’s stock worth $606,333,000 after acquiring an additional 1,152,207 shares during the last quarter. Rollins Financial acquired a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $219,000. Handelsbanken Fonder AB raised its holdings in shares of Coca-Cola Europacific Partners by 1.5% in the fourth quarter. Handelsbanken Fonder AB now owns 66,413 shares of the company’s stock worth $3,673,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $22,397,000. 28.63% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Shares of NYSE:CCEP opened at $63.48 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.71 and a current ratio of 0.89. The business has a 50-day moving average of $62.48 and a two-hundred day moving average of $57.62. Coca-Cola Europacific Partners PLC has a 12 month low of $41.80 and a 12 month high of $66.79.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, May 25th. Stockholders of record on Friday, May 12th were given a $0.74 dividend. This represents a dividend yield of 2.6%. The ex-dividend date was Thursday, May 11th.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CCEP shares. Credit Suisse Group boosted their price target on Coca-Cola Europacific Partners to €65.00 ($69.89) in a report on Wednesday, April 26th. Societe Generale upgraded Coca-Cola Europacific Partners from a “sell” rating to a “hold” rating and set a $61.15 target price for the company in a research note on Wednesday, April 26th. UBS Group upped their target price on Coca-Cola Europacific Partners from $68.00 to $71.00 in a research note on Wednesday, April 26th. Argus upped their target price on Coca-Cola Europacific Partners from $62.00 to $72.00 in a research note on Friday, May 26th. Finally, Barclays upped their target price on Coca-Cola Europacific Partners from $73.00 to $75.00 in a research note on Thursday, April 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Coca-Cola Europacific Partners Company 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.