Cullen Capital Management LLC Sells 29,301 Shares of Coca-Cola Europacific Partners $CCEP

Cullen Capital Management LLC lessened its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 491,058 shares of the company’s stock after selling 29,301 shares during the period. Cullen Capital Management LLC’s holdings in Coca-Cola Europacific Partners were worth $44,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CCEP. Norges Bank bought a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at about $363,294,000. Invesco Ltd. grew its position in shares of Coca-Cola Europacific Partners by 31.6% in the 3rd quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after acquiring an additional 3,751,430 shares during the period. Lazard Asset Management LLC grew its position in shares of Coca-Cola Europacific Partners by 310.4% in the 3rd quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after acquiring an additional 1,762,299 shares during the period. Bank of America Corp DE grew its position in shares of Coca-Cola Europacific Partners by 32.8% in the 2nd quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock valued at $266,158,000 after acquiring an additional 709,723 shares during the period. Finally, Man Group plc lifted its stake in shares of Coca-Cola Europacific Partners by 219.8% during the 2nd quarter. Man Group plc now owns 1,001,770 shares of the company’s stock worth $92,884,000 after buying an additional 688,506 shares during the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $99.34 on Friday. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week 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. The firm has a 50-day moving average of $94.56 and a 200-day moving average of $94.51.

Coca-Cola Europacific Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

CCEP has been the subject of a number of research reports. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company initiated coverage on shares of Coca-Cola Europacific Partners in a research note on Friday. They set an “overweight” rating and a $110.00 target price for the company. Weiss Ratings cut shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. The Goldman Sachs Group raised 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, JPMorgan Chase & Co. raised 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. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average price target of $106.50.

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.