Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 253.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,948,024 shares of the company's stock after buying an additional 1,397,394 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.42% of Coca-Cola Europacific Partners worth $169,537,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CCEP. Norges Bank acquired a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter valued at about $190,999,000. Invesco Ltd. grew its position in 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 purchasing an additional 2,105,019 shares during the last quarter. Barclays PLC grew its position in 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 purchasing an additional 1,268,401 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 872,060 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 842.4% in the fourth quarter. Jane Street Group LLC now owns 714,988 shares of the company's stock valued at $54,918,000 after acquiring an additional 639,119 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $91.10 on Friday. 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 12 month low of $71.49 and a 12 month high of $94.74. The company's fifty day moving average is $90.39 and its 200-day moving average is $84.59. The firm has a market cap of $41.99 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 4.91 and a beta of 0.78.

Coca-Cola Europacific Partners Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on CCEP shares. Wall Street Zen upgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a report on Friday. UBS Group upped their price target on shares of 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. Finally, Barclays upped their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.50.

Coca-Cola Europacific Partners Company 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.

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