BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 80,300 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,062 shares of the company's stock after purchasing an additional 80,300 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.14% of Coca-Cola Europacific Partners worth $48,952,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Coca-Cola Europacific Partners by 1.6% during 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 period. Worldquant Millennium Advisors LLC raised its position in shares of Coca-Cola Europacific Partners by 13.5% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 49,710 shares of the company's stock worth $3,818,000 after purchasing an additional 5,930 shares during the period. State of Wyoming raised its position in shares of Coca-Cola Europacific Partners by 444.7% during the fourth quarter. State of Wyoming now owns 7,686 shares of the company's stock worth $590,000 after purchasing an additional 6,275 shares during the period. Siemens Fonds Invest GmbH raised its position in shares of Coca-Cola Europacific Partners by 79.1% during the fourth quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company's stock worth $1,246,000 after purchasing an additional 7,165 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Coca-Cola Europacific Partners by 1.0% during the fourth quarter. Royal Bank of Canada now owns 866,898 shares of the company's stock worth $66,586,000 after purchasing an additional 8,863 shares during the period. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Up 1.0%

CCEP stock traded up $0.86 during mid-day trading on Friday, reaching $89.45. The company had a trading volume of 1,387,734 shares, compared to its average volume of 1,743,659. 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 50 day simple moving average of $87.45 and a two-hundred day simple moving average of $82.08. The company has a market capitalization of $41.23 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 4.89 and a beta of 0.77. Coca-Cola Europacific Partners PLC has a 52 week low of $70.82 and a 52 week high of $91.37.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 16th will be issued a dividend of $0.8993 per share. 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%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCEP. Barclays lifted 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. Evercore ISI lifted their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Kepler Capital Markets lowered Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. Finally, UBS Group lifted 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. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and a consensus price target of $88.50.

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.