Coca-Cola Europacific Partners $CCEP Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. decreased its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 7.2% in the fourth quarter, Holdings Channel reports. The fund owned 6,353,731 shares of the company’s stock after selling 494,038 shares during the period. Goldman Sachs Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $576,283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac acquired a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $55,000. Geneos Wealth Management Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 23.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock worth $70,000 after buying an additional 156 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Coca-Cola Europacific Partners by 18.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company’s stock worth $92,000 after buying an additional 155 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 76.0% during the 3rd quarter. Assetmark Inc. now owns 1,051 shares of the company’s stock worth $95,000 after buying an additional 454 shares during the last quarter. Finally, Maseco LLP increased its holdings in shares of Coca-Cola Europacific Partners by 20.6% during the 4th quarter. Maseco LLP now owns 1,123 shares of the company’s stock worth $103,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 1.5%

NASDAQ:CCEP opened at $92.41 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average price of $93.98 and a 200 day moving average price of $94.24. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCEP. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. The Goldman Sachs Group raised their price target on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. UBS Group raised their price target on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Barclays raised their price target on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.00.

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.