Coca-Cola Europacific PartnersCCEP
About: CCEP is the second-largest bottling partner in the Coca-Cola system by volume, behind Coca-Cola Femsa, and primarily operates in developed Europe (80% of 2023 revenue and EBIT) and Australasia (20%).In 2023, CCEP sold 3.3 billion unit cases of beverages, which we estimate equates to roughly 9% of the global Coke system volume. Coke's largest bottler, Coca-Cola Femsa sold 4 billion unit cases (12%), and the third-largest, Coca-Cola HBC, serving Eastern Europe and North Africa, sold 2.8 billion unit cases (8%).TCCC owns 19% of the equity of CCEP, Olive Partners, a holding company of bottling operations, owns a further 36%, and the remaining 45% is free float.
Employees: 33,295
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
1,184% more call options, than puts
Call options by funds: $111M | Put options by funds: $8.69M
100% more funds holding in top 10
Funds holding in top 10: 4 [Q1] → 8 (+4) [Q2]
26% more first-time investments, than exits
New positions opened: 59 | Existing positions closed: 47
3% more funds holding
Funds holding: 479 [Q1] → 491 (+12) [Q2]
8% more repeat investments, than reductions
Existing positions increased: 185 | Existing positions reduced: 171
4% more capital invested
Capital invested by funds: $10.1B [Q1] → $10.5B (+$447M) [Q2]
0.07% more ownership
Funds ownership: 31.42% [Q1] → 31.49% (+0.07%) [Q2]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
Barclays Lauren Lieberman 61% 1-year accuracy 44 / 72 met price target | 9%upside $84 | Overweight Maintained | 11 Oct 2024 |
Deutsche Bank Mitch Collett 100% 1-year accuracy 1 / 1 met price target | 17%upside $90 | Buy Maintained | 9 Sept 2024 |
Barclays Lauren Lieberman 61% 1-year accuracy 44 / 72 met price target | 10%upside $85 | Overweight Maintained | 9 Aug 2024 |
