Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Sold by Generate Investment Management Ltd

Generate Investment Management Ltd lowered its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 37.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,281 shares of the company's stock after selling 69,520 shares during the quarter. Generate Investment Management Ltd's holdings in Coca-Cola Europacific Partners were worth $10,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCEP. SBI Securities Co. Ltd. purchased a new position in shares of Coca-Cola Europacific Partners in the 4th quarter worth about $27,000. NBC Securities Inc. acquired a new stake in Coca-Cola Europacific Partners during the 1st quarter worth approximately $28,000. Optiver Holding B.V. acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $29,000. Summit Securities Group LLC purchased a new position in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC acquired a new position in Coca-Cola Europacific Partners during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Down 0.2%

Coca-Cola Europacific Partners stock traded down $0.17 during midday trading on Friday, hitting $91.10. 1,897,857 shares of the stock were exchanged, compared to its average volume of 1,799,334. Coca-Cola Europacific Partners has a 1 year low of $71.49 and a 1 year high of $94.74. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.62. The firm has a market cap of $41.99 billion, a P/E ratio of 18.74, a P/E/G ratio of 4.92 and a beta of 0.78. The company has a 50 day moving average price of $90.39 and a two-hundred day moving average price of $84.55.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were paid 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's dividend payout ratio is presently 37.04%.

Analyst Ratings Changes

CCEP has been the subject of several recent research reports. Barclays increased their price objective 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. Wall Street Zen upgraded Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a report on Friday. Finally, UBS Group raised their price objective 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.