Allianz Asset Management GmbH Sells 77,769 Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP)

Allianz Asset Management GmbH decreased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,741 shares of the company's stock after selling 77,769 shares during the quarter. Allianz Asset Management GmbH's holdings in Coca-Cola Europacific Partners were worth $18,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. boosted its position 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 buying an additional 2,105,019 shares during the last quarter. FMR LLC boosted its position in Coca-Cola Europacific Partners by 3.3% in the fourth quarter. FMR LLC now owns 7,234,642 shares of the company's stock worth $555,693,000 after purchasing an additional 229,679 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock worth $221,835,000 after purchasing an additional 872,060 shares during the last quarter. Norges Bank purchased a new position in Coca-Cola Europacific Partners in the fourth quarter worth $190,999,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Coca-Cola Europacific Partners by 1.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company's stock worth $190,243,000 after purchasing an additional 38,911 shares during the last quarter. Institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP traded down $0.13 during trading on Friday, reaching $100.04. The company's stock had a trading volume of 1,501,669 shares, compared to its average volume of 1,624,024. The stock has a market capitalization of $46.11 billion, a PE ratio of 20.58, a P/E/G ratio of 5.07 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 0.62. The firm has a fifty day moving average of $93.35 and a 200 day moving average of $87.27. Coca-Cola Europacific Partners has a one year low of $71.49 and a one year high of $100.67.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were given a dividend of $0.8993 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is presently 37.04%.

Analyst Ratings Changes

CCEP has been the topic of several research analyst reports. Barclays reissued an "overweight" rating and issued a $104.00 price objective (up previously from $101.00) on shares of Coca-Cola Europacific Partners in a research report on Tuesday, July 15th. UBS Group upped their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.57.

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.