Bessemer Group Inc. Acquires 289,080 Shares of Coca-Cola Europacific Partners $CCEP

Bessemer Group Inc. boosted its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 14.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,289,254 shares of the company’s stock after buying an additional 289,080 shares during the period. Bessemer Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $207,568,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bayban bought a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter worth about $25,000. Whipplewood Advisors LLC lifted its position in Coca-Cola Europacific Partners by 1,537.5% in the 1st quarter. Whipplewood Advisors LLC now owns 393 shares of the company’s stock valued at $36,000 after acquiring an additional 369 shares in the last quarter. Quarry LP lifted its position in Coca-Cola Europacific Partners by 59.1% in the 4th quarter. Quarry LP now owns 393 shares of the company’s stock valued at $36,000 after acquiring an additional 146 shares in the last quarter. 1248 Management LLC acquired a new position in Coca-Cola Europacific Partners during the 4th quarter valued at about $38,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in Coca-Cola Europacific Partners by 83.3% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings downgraded Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Wells Fargo & Company increased their price target on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. UBS Group raised their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Barclays lifted their price objective 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. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and an average price target of $107.12.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $106.05 on Friday. 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 has a 52-week low of $84.65 and a 52-week high of $110.90. The company has a 50-day simple moving average of $97.74 and a 200 day simple moving average of $96.42.

Coca-Cola Europacific Partners Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, May 27th. Stockholders 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 dividend yield of 213.0%.

About Coca-Cola Europacific Partners

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.