China Universal Asset Management Co. Ltd. raised its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 52.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,385 shares of the company's stock after buying an additional 3,893 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Coca-Cola Europacific Partners were worth $991,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth $190,999,000. Invesco Ltd. raised its holdings in 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 acquiring an additional 2,105,019 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Coca-Cola Europacific Partners by 253.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock valued at $169,537,000 after acquiring an additional 1,397,394 shares during the period. Barclays PLC raised its holdings in Coca-Cola Europacific Partners by 236.4% during the fourth quarter. Barclays PLC now owns 1,804,855 shares of the company's stock valued at $138,631,000 after acquiring an additional 1,268,401 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Coca-Cola Europacific Partners by 43.3% during the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock valued at $221,835,000 after acquiring an additional 872,060 shares during the period. 31.35% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on CCEP shares. UBS Group raised their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Barclays raised their price target on 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, Wall Street Zen cut Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.14.
Get Our Latest Report on Coca-Cola Europacific Partners
Coca-Cola Europacific Partners Trading Up 0.1%
CCEP traded up $0.07 on Friday, hitting $95.52. The company had a trading volume of 1,223,620 shares, compared to its average volume of 1,823,310. The company has a market cap of $44.03 billion, a PE ratio of 19.65, a PEG ratio of 4.87 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. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business's fifty day simple moving average is $91.52 and its 200 day simple moving average is $85.69.
Coca-Cola Europacific Partners Cuts Dividend
The firm also recently announced 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. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 2.4%.
Coca-Cola Europacific Partners Profile
(
Free Report)
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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