CI Investments Inc. Boosts Stake in Coca-Cola Europacific Partners $CCEP

CI Investments Inc. increased its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.8% in the 1st quarter, Holdings Channel reports. The fund owned 283,508 shares of the company’s stock after buying an additional 5,109 shares during the quarter. CI Investments Inc.’s holdings in Coca-Cola Europacific Partners were worth $25,706,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CCEP. M&T Bank Corp boosted its holdings in shares of Coca-Cola Europacific Partners by 298.4% in 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. Mirae Asset Global Investments Co. Ltd. lifted its position in Coca-Cola Europacific Partners by 17.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 144,681 shares of the company’s stock worth $13,123,000 after buying an additional 21,587 shares during the last quarter. Capricorn Fund Managers Ltd bought a new position in Coca-Cola Europacific Partners during the fourth quarter valued at approximately $1,143,000. Massachusetts Financial Services Co. MA grew its position in Coca-Cola Europacific Partners by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,873,922 shares of the company’s stock valued at $532,765,000 after acquiring an additional 38,339 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Coca-Cola Europacific Partners by 2.2% during the fourth quarter. UBS Group AG now owns 2,035,674 shares of the company’s stock worth $184,636,000 after acquiring an additional 43,942 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $105.88 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. The firm’s fifty day moving average is $98.74 and its 200 day moving average is $96.82. Coca-Cola Europacific Partners has a 52 week low of $84.65 and a 52 week high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

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 was Friday, May 15th. This represents a yield of 213.0%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Weiss Ratings cut shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Barclays boosted their price target on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.88.

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.