Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Sold by Private Management Group Inc.

Key Points

• Private Management Group Inc. has reduced its stake in Coca-Cola Europacific Partners by 38.0%, now holding 129,839 shares valued at approximately $11.3 million.
• During the first quarter, several large investors increased their positions in CCEP, with Assetmark Inc. boosting its stake by 107.3% to own 284 shares worth $25,000.
• Coca-Cola Europacific Partners announced a recent semi-annual dividend of $0.8993 per share, yielding about 2.4%.

Private Management Group Inc. lessened its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 38.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,839 shares of the company's stock after selling 79,535 shares during the period. Private Management Group Inc.'s holdings in Coca-Cola Europacific Partners were worth $11,300,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Assetmark Inc. increased its position in Coca-Cola Europacific Partners by 107.3% during the first quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. NBC Securities Inc. bought a new position in Coca-Cola Europacific Partners during the first quarter valued at $28,000. Optiver Holding B.V. bought a new position in Coca-Cola Europacific Partners during the fourth quarter valued at $29,000. Cullen Frost Bankers Inc. increased its position in Coca-Cola Europacific Partners by 204.2% during the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after acquiring an additional 245 shares during the last quarter. Finally, HM Payson & Co. purchased a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at $33,000. Institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCEP. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Barclays reissued an "overweight" rating and set a $104.00 target price (up from $101.00) on shares of Coca-Cola Europacific Partners in a research note on Tuesday, July 15th. Finally, UBS Group boosted their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and a consensus price target of $90.57.

Coca-Cola Europacific Partners Stock Down 0.1%

NASDAQ:CCEP traded down $0.13 during mid-day trading on Friday, reaching $100.04. The company's stock had a trading volume of 1,501,669 shares, compared to its average volume of 1,624,024. Coca-Cola Europacific Partners has a 1 year low of $71.49 and a 1 year high of $100.67. The stock has a fifty day moving average of $93.35 and a 200-day moving average of $87.35. The firm has a market capitalization of $46.11 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 5.06 and a beta of 0.77. 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 Cuts Dividend

The company also recently declared 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. 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.