Marathon Asset Management Ltd Cuts Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Marathon Asset Management Ltd cut its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,229,904 shares of the company's stock after selling 46,057 shares during the period. Coca-Cola Europacific Partners makes up 3.3% of Marathon Asset Management Ltd's holdings, making the stock its 4th biggest holding. Marathon Asset Management Ltd owned approximately 0.27% of Coca-Cola Europacific Partners worth $107,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $27,000. Optiver Holding B.V. acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $29,000. Summit Securities Group LLC acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC acquired a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Down 0.2%

Shares of CCEP traded down $0.17 during midday trading on Friday, hitting $91.10. 1,897,857 shares of the stock traded hands, compared to its average volume of 1,799,737. Coca-Cola Europacific Partners has a 1-year low of $71.49 and a 1-year high of $94.74. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81. The business's 50 day moving average price is $90.39 and its two-hundred day moving average price is $84.59.

Coca-Cola Europacific Partners Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CCEP shares. UBS Group increased 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. Wall Street Zen upgraded Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Barclays increased their target price on 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.