Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. raised its stake 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 filing 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 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $190,999,000. Invesco Ltd. boosted its position 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 worth $777,312,000 after acquiring an additional 2,105,019 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake 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 worth $169,537,000 after purchasing an additional 1,397,394 shares during the period. 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. increased its stake in Coca-Cola Europacific Partners by 43.3% during 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 during the period. Institutional investors own 31.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CCEP shares. UBS Group increased their price objective on shares of 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. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Barclays raised their target price on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.13.

Coca-Cola Europacific Partners Stock Performance

CCEP stock traded down $0.14 during trading on Wednesday, hitting $95.86. 2,026,031 shares of the company's stock traded hands, compared to its average volume of 1,821,409. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners has a 52 week low of $71.49 and a 52 week high of $97.23. The stock has a fifty day moving average price of $91.29 and a two-hundred day moving average price of $85.48. The stock has a market capitalization of $44.19 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 5.01 and a beta of 0.77.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were issued a dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 16th.

Coca-Cola Europacific Partners Profile

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.