Coca-Cola Europacific Partners $CCEP Stock: William Blair Investment Management LLC Reduces Position

William Blair Investment Management LLC reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 4.4% in the third quarter, Holdings Channel.com reports. The fund owned 450,513 shares of the company’s stock after selling 20,559 shares during the period. William Blair Investment Management LLC’s holdings in Coca-Cola Europacific Partners were worth $45,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Root Financial Partners LLC bought a new stake in shares of Coca-Cola Europacific Partners during the 3rd quarter valued at $30,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Coca-Cola Europacific Partners by 407.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after purchasing an additional 285 shares in the last quarter. Eastern Bank bought a new position in Coca-Cola Europacific Partners in the 2nd quarter worth about $49,000. Axiom Investment Management LLC bought a new position in Coca-Cola Europacific Partners in the 1st quarter worth about $72,000. Finally, Ameritas Advisory Services LLC bought a new position in Coca-Cola Europacific Partners in the 2nd quarter worth about $85,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Up 1.4%

Coca-Cola Europacific Partners stock traded up $1.64 during midday trading on Friday, hitting $118.57. 1,085,909 shares of the company’s stock were exchanged, compared to its average volume of 1,866,482. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $119.09. The stock has a 50-day moving average price of $107.63 and a two-hundred day moving average price of $101.95. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.68.

Coca-Cola Europacific Partners Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be given a dividend of €1.42 per share. This represents a dividend yield of 286.0%. The ex-dividend date is Friday, November 20th.

Wall Street Analyst Weigh In

CCEP has been the subject of a number of recent analyst reports. UBS Group lifted their target price on Coca-Cola Europacific Partners from $107.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. initiated coverage on shares of Coca-Cola Europacific Partners in a report on Friday, September 4th. They issued an “underweight” rating and a $92.00 price target on the stock. Deutsche Bank restated a “buy” rating and issued a $114.00 price objective (up from $110.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, September 16th. Wells Fargo & Company boosted their price objective on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Finally, ING Group lowered shares of Coca-Cola Europacific Partners to a “hold” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and an average target price of $110.33.

Coca-Cola Europacific Partners Profile

Coca-Cola Europacific Partners (CCEP) is a beverage company that manufactures, sells and distributes products under The Coca-Cola Company’s brands. Its portfolio includes Coca-Cola, Fanta and Sprite, as well as water, sports drinks, energy drinks, juices and ready-to-drink tea and coffee. CCEP serves customers across markets in Western Europe and the Asia-Pacific region, including Australia, New Zealand and parts of Southeast Asia. The company was formed in 2016 through the combination of Coca-Cola bottling operations in Europe and expanded into the Asia-Pacific region with its 2021 acquisition of Coca-Cola Amatil.