First Trust Advisors LP Sells 14,852 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• First Trust Advisors reduced its Coca-Cola Europacific Partners stake by 2.3%, selling 14,852 shares and retaining 630,553 shares valued at approximately $57.2 million. Hedge funds and institutional investors collectively own 31.35% of the company.
• CCEP shares opened at $105.11, near the upper end of their 12-month range of $84.65 to $110.90. The company recently paid a quarterly dividend of $0.82 per share.
• Analyst sentiment remains positive: eight analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $107.88.

First Trust Advisors LP reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 630,553 shares of the company's stock after selling 14,852 shares during the period. First Trust Advisors LP owned approximately 0.14% of Coca-Cola Europacific Partners worth $57,172,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fulton Bank N.A. boosted its position in shares of Coca-Cola Europacific Partners by 3.2% during the 1st quarter. Fulton Bank N.A. now owns 3,699 shares of the company's stock valued at $335,000 after acquiring an additional 113 shares during the last quarter. Parallel Advisors LLC increased its position in Coca-Cola Europacific Partners by 3.7% in the first quarter. Parallel Advisors LLC now owns 3,341 shares of the company's stock worth $303,000 after purchasing an additional 119 shares during the last quarter. Howard Capital Management Inc. raised its stake in Coca-Cola Europacific Partners by 2.9% during the fourth quarter. Howard Capital Management Inc. now owns 4,451 shares of the company's stock valued at $404,000 after purchasing an additional 125 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in Coca-Cola Europacific Partners by 5.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,728 shares of the company's stock valued at $247,000 after purchasing an additional 129 shares in the last quarter. Finally, Genesee Capital Advisors LLC lifted its position in Coca-Cola Europacific Partners by 1.2% during the fourth quarter. Genesee Capital Advisors LLC now owns 11,257 shares of the company's stock valued at $1,021,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $105.11 on Monday. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90. The firm's 50-day moving average is $99.31 and its 200 day moving average is $97.05. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23.

Coca-Cola Europacific Partners Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were given a dividend of $0.82 per share. This represents a dividend yield of 213.0%. The ex-dividend date was Friday, May 15th.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CCEP shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Barclays upped their price objective on Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Weiss Ratings lowered Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Wells Fargo & Company lifted their target price on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Finally, UBS Group boosted their target price on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $107.88.

• Why Chemours Co NYSE: CC Stock is the Recipe for Gains

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.