Night Squared LP Acquires New Shares in Coca-Cola Europacific Partners $CCEP

Night Squared LP acquired a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,419 shares of the company’s stock, valued at approximately $6,931,000. Coca-Cola Europacific Partners comprises about 2.0% of Night Squared LP’s portfolio, making the stock its 21st largest position.

A number of other large investors have also recently added to or reduced their stakes in CCEP. AQR Capital Management LLC lifted its holdings in Coca-Cola Europacific Partners by 10.5% in the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company’s stock valued at $621,000 after acquiring an additional 677 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Coca-Cola Europacific Partners by 23.9% in the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after acquiring an additional 156 shares during the last quarter. Marshall Wace LLP acquired a new position in Coca-Cola Europacific Partners in the second quarter valued at approximately $653,000. Jump Financial LLC lifted its holdings in Coca-Cola Europacific Partners by 18.8% in the second quarter. Jump Financial LLC now owns 25,666 shares of the company’s stock valued at $2,380,000 after acquiring an additional 4,059 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Coca-Cola Europacific Partners in the second quarter valued at approximately $202,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on CCEP. Wells Fargo & Company began coverage on Coca-Cola Europacific Partners in a report on Friday. They issued an “overweight” rating and a $110.00 price objective on the stock. Barclays upped their price objective on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. UBS Group upped their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a report 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, Evercore reissued an “outperform” rating and issued a $112.00 target price on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Coca-Cola Europacific Partners Trading Down 0.2%

Shares of NASDAQ CCEP opened at $99.24 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $110.90. The business’s 50 day moving average is $94.84 and its two-hundred day moving average is $94.66.

Coca-Cola Europacific Partners Dividend Announcement

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

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.