Should You Hold Coca-Cola Europacific Partners PLC (CCEP)?

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the third quarter, the fund returned -6.61% compared to a -6.82% return for the MSCI All Country World Index. Poor performance of the global market in the nine months of 2022 affected the fund’s performance in the quarter. You can check the top 5 holdings of the fund to know its best picks in 2022.

Ave Maria highlighted stocks like Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in its Q3 2022 investor letter. Headquartered in Uxbridge, the United Kingdom, Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) engages in the production and distribution of non-alcoholic beverages. On January 4, 2023, Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) stock closed at $55.66 per share. One-month return of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) was 4.76%, and its shares lost 3.70% of their value over the last 52 weeks. Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) has a market capitalization of $25.933 billion.

Ave Maria made the following comment about Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in its Q3 2022 investor letter:

“Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) is the largest global Coca-Cola bottler by revenue. The management team has a track record of creating value for shareholders by consolidating and improving the operations of smaller bottlers. The company has been applying the same playbook to Coca-Cola Amatil, an Australian bottler with operations in 6 countries.”

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) at the end of the third quarter, which was 22 in the previous quarter.

We discussed Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in another article and discussed whether Peter Avellone’s Cartenna Capital was right about their stock picks as of the third quarter of 2021. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.