BNP Paribas Financial Markets Raises Stock Holdings in Coca-Cola Europacific Partners $CCEP

BNP Paribas Financial Markets grew its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 29.6% during the 4th quarter, Holdings Channel reports. The fund owned 470,205 shares of the company’s stock after acquiring an additional 107,407 shares during the period. BNP Paribas Financial Markets’ holdings in Coca-Cola Europacific Partners were worth $42,648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CCEP. Norges Bank purchased a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at $363,294,000. Invesco Ltd. lifted its position in shares of Coca-Cola Europacific Partners by 31.6% in the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after acquiring an additional 3,751,430 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Coca-Cola Europacific Partners by 12,873.0% in the third quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock valued at $229,428,000 after acquiring an additional 2,518,085 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Coca-Cola Europacific Partners by 310.4% in the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after acquiring an additional 1,762,299 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Coca-Cola Europacific Partners by 32.8% in the second quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock valued at $266,158,000 after acquiring an additional 709,723 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CCEP shares. The Goldman Sachs Group increased their target price on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Evercore reiterated an “outperform” rating and set a $112.00 target price on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Barclays increased their target price on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings downgraded Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $92.41 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The business has a 50-day moving average of $93.98 and a two-hundred day moving average of $94.24. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

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

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.