Coca-Cola Europacific Partners $CCEP Shares Sold by Marsico Capital Management LLC

Marsico Capital Management LLC lessened its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 37.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,837 shares of the company’s stock after selling 99,507 shares during the period. Marsico Capital Management LLC’s holdings in Coca-Cola Europacific Partners were worth $14,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Intech Investment Management LLC purchased a new position in Coca-Cola Europacific Partners in the third quarter valued at about $980,000. Vestcor Inc increased its holdings in Coca-Cola Europacific Partners by 14.4% in the third quarter. Vestcor Inc now owns 80,665 shares of the company’s stock valued at $7,293,000 after buying an additional 10,125 shares in the last quarter. NEOS Investment Management LLC increased its stake in shares of Coca-Cola Europacific Partners by 77.1% during the 3rd quarter. NEOS Investment Management LLC now owns 146,000 shares of the company’s stock worth $13,200,000 after purchasing an additional 63,554 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of Coca-Cola Europacific Partners by 10.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 152,283 shares of the company’s stock worth $13,768,000 after purchasing an additional 13,800 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Coca-Cola Europacific Partners by 298.4% during the 4th quarter. M&T Bank Corp now owns 25,603 shares of the company’s stock worth $2,322,000 after purchasing an additional 19,176 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 0.2%

Shares of CCEP opened at $97.69 on Friday. The company’s fifty day moving average is $94.43 and its two-hundred day moving average is $94.47. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23.

Coca-Cola Europacific Partners Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on CCEP. Barclays lifted their target price on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Wells Fargo & Company began coverage on shares of Coca-Cola Europacific Partners in a research note on Friday. They issued an “overweight” rating for the company. The Goldman Sachs Group lifted their target price on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, Evercore reiterated an “outperform” rating and issued a $112.00 price target on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Eight 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, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus 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.