Sequoia Financial Advisors LLC Boosts Stake in Coca-Cola Europacific Partners $CCEP

Sequoia Financial Advisors LLC boosted its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 163.3% in the 1st quarter, HoldingsChannel reports. The fund owned 7,843 shares of the company’s stock after acquiring an additional 4,864 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Coca-Cola Europacific Partners were worth $711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Boston Partners boosted its position in shares of Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Boston Partners now owns 6,266,512 shares of the company’s stock worth $566,051,000 after purchasing an additional 156,613 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Coca-Cola Europacific Partners by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,873,922 shares of the company’s stock valued at $532,765,000 after purchasing an additional 38,339 shares in the last quarter. State Street Corp lifted its stake in shares of Coca-Cola Europacific Partners by 0.7% in the third quarter. State Street Corp now owns 4,760,094 shares of the company’s stock valued at $430,360,000 after purchasing an additional 31,054 shares during the period. Norges Bank purchased a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $363,294,000. Finally, FIL Ltd boosted its holdings in Coca-Cola Europacific Partners by 0.3% during the fourth quarter. FIL Ltd now owns 3,793,166 shares of the company’s stock worth $344,312,000 after buying an additional 10,801 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. 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. Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, Barclays boosted their target price on 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. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $107.12.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $105.18 on Monday. 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 stock’s fifty day simple moving average is $97.95 and its 200-day simple moving average is $96.51. 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 company also recently disclosed a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were given a $0.82 dividend. This represents a dividend yield of 213.0%. The ex-dividend date of this dividend was Friday, May 15th.

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.