Cresset Asset Management LLC Sells 31,223 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Cresset Asset Management LLC lowered its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 85.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,212 shares of the company's stock after selling 31,223 shares during the period. Cresset Asset Management LLC's holdings in Coca-Cola Europacific Partners were worth $400,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CCEP. Invesco Ltd. lifted its holdings in shares of 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 purchasing an additional 2,105,019 shares during the last quarter. FMR LLC increased its position 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 acquiring an additional 229,679 shares during the period. Amundi lifted its position in shares of Coca-Cola Europacific Partners by 2.9% in the 4th quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after acquiring an additional 87,675 shares during the period. JPMorgan Chase & Co. raised its holdings 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 worth $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 during the 4th quarter valued at about $190,999,000. Institutional investors and hedge funds own 31.35% of the company's stock.

Analyst Ratings Changes

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

Coca-Cola Europacific Partners Stock Up 0.4%

Shares of NASDAQ:CCEP traded up $0.39 during midday trading on Monday, reaching $88.69. The company had a trading volume of 1,183,998 shares, compared to its average volume of 1,738,922. Coca-Cola Europacific Partners PLC has a 1-year low of $70.82 and a 1-year high of $91.37. The stock has a market cap of $40.88 billion, a PE ratio of 18.25, a P/E/G ratio of 4.89 and a beta of 0.77. 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 business's 50 day moving average price is $86.94 and its 200 day moving average price is $81.72.

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 issued a $0.8993 dividend. This represents a dividend yield of 2.4%. The ex-dividend date is Friday, May 16th. Coca-Cola Europacific Partners's payout ratio is presently 16.26%.

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.