Man Group plc Cuts Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Man Group plc lowered its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,571 shares of the company's stock after selling 34,043 shares during the quarter. Man Group plc's holdings in Coca-Cola Europacific Partners were worth $13,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. increased its position in shares of 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 last quarter. FMR LLC increased its position in shares of Coca-Cola Europacific Partners by 3.3% during the 4th quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after purchasing an additional 229,679 shares during the last quarter. Amundi raised its stake in shares of Coca-Cola Europacific Partners by 2.9% during the 4th quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after purchasing an additional 87,675 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 872,060 shares during the period. Finally, Norges Bank purchased a new position in shares of Coca-Cola Europacific Partners in the 4th quarter worth about $190,999,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock traded up $0.46 during mid-day trading on Friday, reaching $89.05. The company's stock had a trading volume of 381,127 shares, compared to its average volume of 1,737,390. The firm's fifty day moving average price is $87.37 and its two-hundred day moving average price is $82.00. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. Coca-Cola Europacific Partners PLC has a 12-month low of $70.82 and a 12-month high of $91.37. The company has a market capitalization of $41.05 billion, a P/E ratio of 18.33, a PEG ratio of 4.89 and a beta of 0.77.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be given a dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date is Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio is presently 16.26%.

Wall Street Analyst Weigh In

Several analysts have commented on CCEP shares. Evercore ISI lifted their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. UBS Group raised their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Barclays upped their price objective on 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. Finally, Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $88.50.

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.