Night Squared LP Takes Position in Coca-Cola Europacific Partners $CCEP

Night Squared LP bought a new stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 76,419 shares of the company’s stock, valued at approximately $6,931,000. Coca-Cola Europacific Partners accounts for about 2.0% of Night Squared LP’s portfolio, making the stock its 21st largest position.

A number of other institutional investors have also recently modified their holdings of CCEP. AQR Capital Management LLC grew its position in shares of Coca-Cola Europacific Partners by 10.5% during the 1st quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock valued at $621,000 after acquiring an additional 677 shares during the period. Geneos Wealth Management Inc. grew its position 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 valued at $70,000 after acquiring an additional 156 shares during the period. Marshall Wace LLP acquired a new stake in Coca-Cola Europacific Partners in the 2nd quarter worth about $653,000. Jump Financial LLC boosted its holdings in Coca-Cola Europacific Partners by 18.8% in the 2nd quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock worth $2,380,000 after buying an additional 4,059 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Coca-Cola Europacific Partners in the 2nd quarter worth about $202,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CCEP shares. The Goldman Sachs Group lifted their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Wells Fargo & Company started coverage on Coca-Cola Europacific Partners in a report on Friday. They issued an “overweight” rating and a $110.00 price objective on the stock. Finally, UBS Group lifted their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Coca-Cola Europacific Partners Stock Down 0.2%

Shares of Coca-Cola Europacific Partners stock opened at $99.24 on Wednesday. The stock’s 50 day simple moving average is $94.84 and its 200-day simple moving average is $94.66. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $110.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80.

Coca-Cola Europacific Partners Dividend Announcement

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

Coca-Cola Europacific Partners 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.