Bank of New York Mellon Corp Grows Stock Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Bank of New York Mellon Corp raised its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 657,071 shares of the company's stock after purchasing an additional 13,981 shares during the period. Bank of New York Mellon Corp owned approximately 0.14% of Coca-Cola Europacific Partners worth $57,185,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter worth approximately $190,999,000. Invesco Ltd. lifted its holdings in shares of Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock worth $777,312,000 after acquiring an additional 2,105,019 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 253.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock worth $169,537,000 after acquiring an additional 1,397,394 shares during the last quarter. Barclays PLC lifted its holdings in shares of Coca-Cola Europacific Partners by 236.4% in the 4th quarter. Barclays PLC now owns 1,804,855 shares of the company's stock worth $138,631,000 after acquiring an additional 1,268,401 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted 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 acquiring an additional 872,060 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Up 0.1%

Shares of Coca-Cola Europacific Partners stock opened at $95.52 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11. The company's fifty day simple moving average is $91.63 and its two-hundred day simple moving average is $85.89. The company has a market cap of $44.03 billion, a P/E ratio of 19.65, a PEG ratio of 4.83 and a beta of 0.77. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $97.23.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were given a dividend of $0.8993 per share. This represents a yield of 2.4%. The ex-dividend date was Friday, May 16th.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CCEP shares. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Barclays upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.14.

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.

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