Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,500 shares of the company's stock after buying an additional 6,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Coca-Cola Europacific Partners were worth $14,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in Coca-Cola Europacific Partners during the 1st quarter worth approximately $2,419,000. BKM Wealth Management LLC lifted its position in shares of Coca-Cola Europacific Partners by 1.6% during the first quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock worth $682,000 after purchasing an additional 124 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Coca-Cola Europacific Partners during the first quarter worth $229,000. Csenge Advisory Group acquired a new position in shares of Coca-Cola Europacific Partners in the first quarter worth about $228,000. Finally, Private Advisor Group LLC acquired a new position in shares of Coca-Cola Europacific Partners in the first quarter worth about $215,000. Institutional investors and hedge funds own 31.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CCEP shares. Barclays reaffirmed an "overweight" rating and issued a $104.00 target price (up from $101.00) on shares of Coca-Cola Europacific Partners in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, UBS Group upped their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and a consensus price target of $90.57.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP traded down $0.13 during trading hours on Friday, hitting $100.04. The company had a trading volume of 1,501,669 shares, compared to its average volume of 1,624,024. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners has a fifty-two week low of $71.49 and a fifty-two week high of $100.67. The business has a fifty day simple moving average of $93.35 and a 200-day simple moving average of $87.27. The firm has a market cap of $46.11 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 5.07 and a beta of 0.77.

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 $0.8993 dividend. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners's payout ratio is currently 37.04%.

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.