Envestnet Portfolio Solutions Inc. Lowers Stock Position in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Envestnet Portfolio Solutions Inc. cut its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 70.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,209 shares of the company's stock after selling 7,727 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Coca-Cola Europacific Partners were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Invesco Ltd. lifted its stake 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 purchasing 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 holdings 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 valued at $233,716,000 after buying an additional 87,675 shares in the last quarter. JPMorgan Chase & Co. lifted 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 buying an additional 872,060 shares during the last quarter. Finally, Norges Bank purchased a new stake in Coca-Cola Europacific Partners in the fourth quarter worth approximately $190,999,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays lifted 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. UBS Group boosted their target price on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $91.10 on Monday. The firm has a market capitalization of $41.99 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 4.91 and a beta of 0.78. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $94.74. The firm has a 50-day moving average price of $90.39 and a 200-day moving average price of $84.63. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11.

Coca-Cola Europacific Partners Cuts Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.