Core Viewpoint - Coca-Cola Europacific Partners PLC (CCEP) is a significant player in the non-alcoholic beverage industry, with a diverse product range and a strong market presence, serving approximately 600 million consumers [1] Financial Performance - In the third quarter ending September 26, 2025, CCEP reported total revenue of €5.41 billion, reflecting a 0.4% increase in volume and a 2.7% rise in revenue per unit case [3] - For the first half of 2025, CCEP achieved revenue of €10.3 billion, a 4.5% increase year-over-year, with operating profit rising by 19.4% to €1.36 billion and diluted earnings per share increasing by 15% to €1.99 [5] Market Position and Analyst Outlook - CCEP's current valuation indicates fundamental strength, but analysts have set fluctuating price targets, with UBS analyst Robert Krankowski suggesting a cautious target of $68, reflecting a less attractive near-term risk/reward profile [4][6] - The consensus price target for CCEP's stock has varied, with an average of $101 last month, $107.5 last quarter, and $104.33 a year ago, indicating adjustments in analysts' expectations due to market conditions [2]

Core Insights - Constitution Capital sold 50,233 shares of The Coca-Cola Company, valued at approximately $3.46 million, reducing its holdings to 57,436 shares worth $3.81 million as of quarter-end [2][3] Company Overview - The Coca-Cola Company has a market capitalization of $294.54 billion and reported revenue of $47.06 billion and net income of $12.18 billion for the trailing twelve months [4] - The company's stock price was $68.44 as of October 17, 2025, reflecting a 2.1% decline over the past year and underperforming the S&P 500 by 14 percentage points [3][4] Business Model - The Coca-Cola Company operates as a global leader in the non-alcoholic beverage industry, with a diverse portfolio that includes sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy, and plant-based beverages [5][7] - Revenue is primarily generated through the sale of beverage concentrates and syrups to bottling partners, as well as direct sales to retailers and distributors [7] Competitive Position - The company benefits from a resilient business model and consistent profitability, which provide a competitive advantage in the consumer defensive sector [8] - Coca-Cola has maintained a dividend yield of 3% and has increased its dividend payments for 62 consecutive years, making it an attractive option for investors seeking passive income and stability [11] Investment Considerations - Constitution Capital's allocation in Coca-Cola has increased from 0.9% to 1.8% over the last two years, despite recent sales, indicating a mixed investment strategy [9] - The stock is viewed as a potential "buy the dip" candidate, currently down 8% from its high this year, with a price-to-earnings ratio of 24, below its 5-year average of 27 [10]