Rakuten Investment Management Inc. Acquires New Holdings in Coca-Cola Europacific Partners $CCEP

Rakuten Investment Management Inc. bought a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,871 shares of the company’s stock, valued at approximately $5,204,000.

Several other large investors have also modified their holdings of CCEP. Amundi raised its stake in Coca-Cola Europacific Partners by 13.4% during the 1st quarter. Amundi now owns 3,399,052 shares of the company’s stock worth $308,192,000 after acquiring an additional 401,683 shares in the last quarter. Bank of America Corp DE boosted its stake in Coca-Cola Europacific Partners by 0.6% in the first quarter. Bank of America Corp DE now owns 2,692,575 shares of the company’s stock valued at $244,136,000 after acquiring an additional 17,036 shares in the last quarter. Bessemer Group Inc. boosted its stake in Coca-Cola Europacific Partners by 14.5% in the first quarter. Bessemer Group Inc. now owns 2,289,254 shares of the company’s stock valued at $207,568,000 after acquiring an additional 289,080 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Coca-Cola Europacific Partners during the first quarter worth about $97,058,000. Finally, Swiss National Bank grew its holdings in shares of Coca-Cola Europacific Partners by 26.9% during the first quarter. Swiss National Bank now owns 719,614 shares of the company’s stock worth $65,247,000 after purchasing an additional 152,400 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CCEP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. began coverage on Coca-Cola Europacific Partners in a research report on Friday, September 4th. They set an “underweight” rating and a $92.00 target price on the stock. UBS Group upped their target price on Coca-Cola Europacific Partners from $107.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday. ING Group downgraded Coca-Cola Europacific Partners to a “hold” rating in a research note on Friday, September 18th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $110.00 price target on shares of Coca-Cola Europacific Partners in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price target on Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.33.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP traded down $1.16 during trading hours on Friday, reaching $116.13. 2,081,158 shares of the company’s stock were exchanged, compared to its average volume of 1,748,332. The company has a 50-day moving average of $106.69 and a 200 day moving average of $101.26. The company has a quick ratio of 0.68, a current ratio of 0.89 and a debt-to-equity ratio of 1.20. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $119.09.

Coca-Cola Europacific Partners Announces Dividend

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

Coca-Cola Europacific Partners Company 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.

Damian Gammell is CCEP’s chief executive officer.