Ameriprise Financial Inc. Cuts Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Ameriprise Financial Inc. lessened its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,644,017 shares of the company's stock after selling 10,932 shares during the period. Ameriprise Financial Inc. owned about 0.36% of Coca-Cola Europacific Partners worth $124,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in Coca-Cola Europacific Partners in the 3rd quarter valued at about $165,000. Wealth Enhancement Advisory Services LLC boosted its stake in Coca-Cola Europacific Partners by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,496 shares of the company's stock valued at $3,740,000 after buying an additional 177 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Coca-Cola Europacific Partners during the fourth quarter worth $455,000. Assenagon Asset Management S.A. boosted its stake in shares of Coca-Cola Europacific Partners by 1.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,851 shares of the company's stock valued at $1,525,000 after purchasing an additional 260 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in Coca-Cola Europacific Partners by 16.4% during the 4th quarter. Park Avenue Securities LLC now owns 18,056 shares of the company's stock worth $1,387,000 after acquiring an additional 2,548 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Evercore ISI raised their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. UBS Group raised their price objective on shares of 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. Barclays increased their price target 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 lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.50.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded down $0.34 during midday 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 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 one year low of $70.82 and a one year high of $91.37. The firm has a market cap of $41.23 billion, a P/E ratio of 18.40, a PEG ratio of 4.89 and a beta of 0.77. The stock has a 50-day moving average of $86.50 and a 200-day moving average of $81.33.

Coca-Cola Europacific Partners Cuts Dividend

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

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.