Balyasny Asset Management L.P. Lowers Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Balyasny Asset Management L.P. reduced its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,020,396 shares of the company's stock after selling 83,972 shares during the period. Balyasny Asset Management L.P. owned about 0.22% of Coca-Cola Europacific Partners worth $78,377,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP traded down $0.34 during mid-day trading on Friday, hitting $89.44. 1,500,672 shares of the company traded hands, compared to its average volume of 1,723,795. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock's fifty day moving average price is $86.50 and its 200-day moving average price is $81.33. The firm has a market cap of $41.23 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 4.89 and a beta of 0.77. Coca-Cola Europacific Partners PLC has a one year low of $70.82 and a one year high of $91.37.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 16th will be issued a $0.8993 dividend. This represents a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio is 16.26%.

Coca-Cola Europacific Partners Profile

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.