Northwestern Mutual Wealth Management Co. Has $6.83 Million Holdings in Coca-Cola Europacific Partners $CCEP

Northwestern Mutual Wealth Management Co. lifted its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 557.0% during the 4th quarter, Holdings Channel reports. The fund owned 75,249 shares of the company’s stock after acquiring an additional 63,796 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Coca-Cola Europacific Partners were worth $6,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CCEP. Truist Financial Corp boosted its holdings in shares of Coca-Cola Europacific Partners by 10,480.7% in the 3rd quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock worth $429,994,000 after acquiring an additional 4,711,093 shares in the last quarter. Invesco Ltd. boosted its holdings 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 worth $1,411,334,000 after acquiring an additional 3,751,430 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 12,873.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock worth $229,428,000 after acquiring an additional 2,518,085 shares in the last quarter. Lazard Asset Management LLC boosted its holdings 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 worth $210,802,000 after acquiring an additional 1,762,299 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings 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 worth $266,158,000 after acquiring an additional 709,723 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Barclays boosted 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 research report on Thursday, April 30th. Finally, Evercore restated an “outperform” rating and issued a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Coca-Cola Europacific Partners Trading Down 0.0%

CCEP stock opened at $94.12 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. The company has a 50 day moving average price of $94.77 and a 200 day moving average price of $94.08. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, May 15th. This represents a dividend yield of 213.0%.

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.