Gateway Investment Advisers LLC Reduces Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Gateway Investment Advisers LLC reduced its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,375 shares of the company's stock after selling 7,363 shares during the period. Gateway Investment Advisers LLC's holdings in Coca-Cola Europacific Partners were worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in Coca-Cola Europacific Partners in the 1st quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at approximately $27,000. Optiver Holding B.V. purchased a new position in Coca-Cola Europacific Partners during the fourth quarter worth approximately $29,000. Summit Securities Group LLC acquired a new position in Coca-Cola Europacific Partners during the fourth quarter worth $34,000. Finally, Whipplewood Advisors LLC acquired a new position in Coca-Cola Europacific Partners during the fourth quarter worth $52,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $93.31 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The firm has a market cap of $43.01 billion, a P/E ratio of 19.20, a P/E/G ratio of 4.89 and a beta of 0.77. The firm's 50 day moving average price is $88.50 and its 200-day moving average price is $83.09. Coca-Cola Europacific Partners PLC has a one year low of $71.49 and a one year high of $93.49.

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 paid a dividend of $0.8993 per share. This represents a yield of 2.4%. The ex-dividend date was Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is 16.26%.

Wall Street Analyst Weigh In

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

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