Handelsbanken Fonder AB Has $13.31 Million Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Handelsbanken Fonder AB boosted its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,980 shares of the company's stock after purchasing an additional 18,492 shares during the period. Handelsbanken Fonder AB's holdings in Coca-Cola Europacific Partners were worth $13,314,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Invesco Ltd. increased its position in Coca-Cola Europacific Partners by 26.3% in the 4th 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 stake 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 worth $555,693,000 after purchasing an additional 229,679 shares during the last quarter. Amundi increased 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 last quarter. JPMorgan Chase & Co. increased 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 last quarter. Finally, Norges Bank acquired a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth $190,999,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP traded up $0.67 during trading on Thursday, reaching $93.53. The company had a trading volume of 1,514,553 shares, compared to its average volume of 1,787,691. Coca-Cola Europacific Partners PLC has a 52 week low of $71.49 and a 52 week high of $93.62. The stock has a market cap of $43.11 billion, a PE ratio of 19.24, a PEG ratio of 4.89 and a beta of 0.78. 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 business's 50 day moving average price is $88.84 and its 200-day moving average price is $83.35.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders 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's dividend payout ratio is 16.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group increased 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. Evercore ISI raised 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 research note on Tuesday, February 18th. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. Finally, Barclays upped their price target on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One 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. According to data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and a consensus price target of $88.50.

About Coca-Cola Europacific Partners

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.