Rafferty Asset Management LLC Raises Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Rafferty Asset Management LLC raised its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,967 shares of the company's stock after purchasing an additional 26,233 shares during the period. Rafferty Asset Management LLC's holdings in Coca-Cola Europacific Partners were worth $13,132,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CCEP. Point72 Asset Management L.P. increased its position in shares of Coca-Cola Europacific Partners by 232.7% in the 4th quarter. Point72 Asset Management L.P. now owns 563,829 shares of the company's stock valued at $43,308,000 after acquiring an additional 394,372 shares during the period. Point72 Europe London LLP acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at $30,167,000. ProShare Advisors LLC increased its position in shares of Coca-Cola Europacific Partners by 21.3% in the 4th quarter. ProShare Advisors LLC now owns 522,267 shares of the company's stock valued at $40,115,000 after acquiring an additional 91,633 shares during the period. Quantinno Capital Management LP increased its position in shares of Coca-Cola Europacific Partners by 20.8% in the 4th quarter. Quantinno Capital Management LP now owns 35,737 shares of the company's stock valued at $2,745,000 after acquiring an additional 6,160 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of Coca-Cola Europacific Partners by 8.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 71,730 shares of the company's stock valued at $5,486,000 after acquiring an additional 5,723 shares during the period. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP traded down $0.13 during mid-day trading on Tuesday, hitting $88.56. The company's stock had a trading volume of 1,054,300 shares, compared to its average volume of 1,740,276. Coca-Cola Europacific Partners PLC has a 1 year low of $70.82 and a 1 year 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. The stock has a market cap of $40.82 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 4.89 and a beta of 0.77. The business's fifty day moving average is $87.06 and its two-hundred day moving average is $81.82.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced 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 of this dividend is Friday, May 16th. Coca-Cola Europacific Partners's payout ratio is currently 16.26%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays upped their target price 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. 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 upped 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 upped their price target on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.50.

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.