Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Bought by Axa S.A.

AXA S.A. lifted its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,307 shares of the company's stock after acquiring an additional 18,797 shares during the period. AXA S.A.'s holdings in Coca-Cola Europacific Partners were worth $6,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at about $190,999,000. Invesco Ltd. increased its holdings in shares of Coca-Cola Europacific Partners by 26.3% in the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock valued at $777,312,000 after purchasing an additional 2,105,019 shares during the period. Barclays PLC lifted its holdings in shares of Coca-Cola Europacific Partners by 236.4% during the fourth quarter. Barclays PLC now owns 1,804,855 shares of the company's stock worth $138,631,000 after purchasing an additional 1,268,401 shares during the period. JPMorgan Chase & Co. grew its position in Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock valued at $221,835,000 after buying an additional 872,060 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Coca-Cola Europacific Partners by 842.4% in the 4th quarter. Jane Street Group LLC now owns 714,988 shares of the company's stock valued at $54,918,000 after buying an additional 639,119 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CCEP. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. Evercore ISI increased their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. UBS Group lifted their price target on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Barclays increased their price objective on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $88.50.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded down $0.34 during mid-day trading on Friday, reaching $89.44. 1,500,672 shares of the company's stock were exchanged, compared to its average volume of 1,723,795. The company has a 50-day simple moving average of $86.50 and a two-hundred day simple moving average of $81.33. The company has a market cap of $41.23 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 4.89 and a beta of 0.77. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners PLC has a 52-week low of $70.82 and a 52-week high of $91.37.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date is Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio is currently 16.26%.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. It offers flavours, mixers, and energy drinks; soft drinks, waters, enhanced water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.