Clark Capital Management Group Inc. Buys 3,728 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Clark Capital Management Group Inc. raised its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 547,498 shares of the company's stock after purchasing an additional 3,728 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.12% of Coca-Cola Europacific Partners worth $42,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cibc World Markets Corp lifted its position in shares of Coca-Cola Europacific Partners by 1.4% during the 4th quarter. Cibc World Markets Corp now owns 10,200 shares of the company's stock worth $783,000 after buying an additional 139 shares during the last quarter. TIAA Trust National Association lifted its position in shares of Coca-Cola Europacific Partners by 4.4% during the 4th quarter. TIAA Trust National Association now owns 3,420 shares of the company's stock worth $263,000 after buying an additional 145 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its position in shares of Coca-Cola Europacific Partners by 5.0% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 3,149 shares of the company's stock worth $242,000 after buying an additional 150 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Coca-Cola Europacific Partners by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 53,142 shares of the company's stock worth $4,087,000 after buying an additional 155 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Coca-Cola Europacific Partners by 16.2% during the 4th quarter. Blue Trust Inc. now owns 1,189 shares of the company's stock worth $94,000 after buying an additional 166 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Trading Down 2.0%

NASDAQ CCEP traded down $1.83 during trading hours on Monday, reaching $87.67. The company's stock had a trading volume of 1,632,019 shares, compared to its average volume of 1,723,428. The firm has a fifty day simple moving average of $86.50 and a 200-day simple moving average of $81.35. The stock has a market cap of $40.41 billion, a P/E ratio of 18.04, a P/E/G ratio of 4.89 and a beta of 0.77. Coca-Cola Europacific Partners PLC has a 52 week low of $70.82 and a 52 week high of $91.37. 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 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 given a dividend of $0.8993 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is 16.26%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays upped 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. Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. UBS Group increased their target price 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. Finally, Evercore ISI increased their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and a consensus price target of $88.50.

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.