Coca-Cola Europacific Partners $CCEP Shares Sold by Marsico Capital Management LLC

Marsico Capital Management LLC lowered its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 37.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 163,837 shares of the company’s stock after selling 99,507 shares during the quarter. Marsico Capital Management LLC’s holdings in Coca-Cola Europacific Partners were worth $14,860,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac acquired a new position in Coca-Cola Europacific Partners in the 4th quarter worth $55,000. Geneos Wealth Management Inc. lifted its holdings in Coca-Cola Europacific Partners by 23.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock worth $70,000 after buying an additional 156 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Coca-Cola Europacific Partners by 18.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company’s stock worth $92,000 after buying an additional 155 shares in the last quarter. Assetmark Inc. lifted its holdings in Coca-Cola Europacific Partners by 76.0% in the 3rd quarter. Assetmark Inc. now owns 1,051 shares of the company’s stock worth $95,000 after buying an additional 454 shares in the last quarter. Finally, Maseco LLP lifted its holdings in Coca-Cola Europacific Partners by 20.6% in the 4th quarter. Maseco LLP now owns 1,123 shares of the company’s stock worth $103,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CCEP shares. Evercore reiterated an “outperform” rating and issued a $112.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. Citigroup reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. 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 report on Thursday, April 30th. The Goldman Sachs Group upped their target price on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Coca-Cola Europacific Partners Stock Performance

Shares of Coca-Cola Europacific Partners stock opened at $97.69 on Friday. The firm’s 50-day simple moving average is $94.43 and its 200-day simple moving average is $94.47. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $110.90.

Coca-Cola Europacific Partners Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a $0.82 dividend. This represents a dividend yield of 213.0%. The ex-dividend date 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.