Resona Asset Management Co. Ltd. Sells 9,959 Shares of Coca-Cola Europacific Partners $CCEP

Resona Asset Management Co. Ltd. reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 15.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,889 shares of the company’s stock after selling 9,959 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Coca-Cola Europacific Partners were worth $4,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Coca-Cola Europacific Partners by 13.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,094 shares of the company’s stock worth $11,129,000 after purchasing an additional 14,670 shares during the last quarter. Intech Investment Management LLC bought a new stake in Coca-Cola Europacific Partners during the third quarter worth $980,000. Vestcor Inc lifted its stake in Coca-Cola Europacific Partners by 14.4% during the third quarter. Vestcor Inc now owns 80,665 shares of the company’s stock worth $7,293,000 after purchasing an additional 10,125 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Coca-Cola Europacific Partners by 11.8% during the third quarter. iA Global Asset Management Inc. now owns 124,169 shares of the company’s stock worth $11,226,000 after purchasing an additional 13,135 shares during the last quarter. Finally, NEOS Investment Management LLC lifted its stake in Coca-Cola Europacific Partners by 77.1% during the third quarter. NEOS Investment Management LLC now owns 146,000 shares of the company’s stock worth $13,200,000 after purchasing an additional 63,554 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CCEP has been the subject of several recent analyst reports. UBS Group upped their target price on 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. Evercore restated an “outperform” rating and set a $112.00 target price on shares of Coca-Cola Europacific Partners in a research note on Wednesday, February 18th. Barclays upped their target price on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. Finally, Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Coca-Cola Europacific Partners Stock Down 0.0%

Shares of CCEP opened at $94.12 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 current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. The stock has a fifty day moving average of $94.77 and a 200-day moving average of $94.08.

Coca-Cola Europacific Partners Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be paid a $0.82 dividend. This represents a dividend yield of 213.0%. The ex-dividend date is Friday, May 15th.

Coca-Cola Europacific Partners Company 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.