Bank of America Corp DE Sells 300,553 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Bank of America Corp DE lowered its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 9.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,752,711 shares of the company's stock after selling 300,553 shares during the quarter. Bank of America Corp DE owned about 0.60% of Coca-Cola Europacific Partners worth $211,436,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Invesco Ltd. grew its holdings in shares of Coca-Cola Europacific Partners by 26.3% during the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock worth $777,312,000 after purchasing an additional 2,105,019 shares in the last quarter. FMR LLC grew its stake in Coca-Cola Europacific Partners by 3.3% during the fourth quarter. FMR LLC now owns 7,234,642 shares of the company's stock worth $555,693,000 after buying an additional 229,679 shares in the last quarter. Amundi increased its holdings in Coca-Cola Europacific Partners by 2.9% in the 4th quarter. Amundi now owns 3,078,851 shares of the company's stock valued at $233,716,000 after buying an additional 87,675 shares during the period. JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter. Finally, Norges Bank bought a new position in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $190,999,000. Institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Down 0.4 %

Shares of Coca-Cola Europacific Partners stock traded down $0.34 during trading on Friday, hitting $89.44. The company's stock had a trading volume of 1,500,672 shares, compared to its average volume of 1,723,795. The stock 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. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. Coca-Cola Europacific Partners PLC has a 52 week low of $70.82 and a 52 week high of $91.37. The stock has a 50-day moving average price of $86.50 and a two-hundred day moving average price of $81.35.

Coca-Cola Europacific Partners Cuts Dividend

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

Analyst Ratings Changes

CCEP has been the subject of several recent analyst reports. Evercore ISI upped 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. Kepler Capital Markets lowered Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. Barclays boosted their target price on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, UBS Group lifted their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.50.

Coca-Cola Europacific Partners Company 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.