Massachusetts Financial Services Co. MA Trims Stock Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Massachusetts Financial Services Co. MA reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,736,988 shares of the company's stock after selling 13,477 shares during the period. Massachusetts Financial Services Co. MA owned about 0.59% of Coca-Cola Europacific Partners worth $238,200,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at approximately $28,000. Optiver Holding B.V. bought a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $29,000. HM Payson & Co. bought a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at approximately $33,000. Summit Securities Group LLC bought a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $34,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Coca-Cola Europacific Partners by 41.4% during the first quarter. Hexagon Capital Partners LLC now owns 960 shares of the company's stock valued at $84,000 after purchasing an additional 281 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ:CCEP traded up $0.70 during midday trading on Thursday, reaching $96.15. 980,503 shares of the company's stock traded hands, compared to its average volume of 1,830,088. The company has a market cap of $44.32 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 4.73 and a beta of 0.77. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81. Coca-Cola Europacific Partners has a one year low of $71.49 and a one year high of $97.23. The stock has a 50 day moving average of $91.89 and a 200 day moving average of $86.20.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were issued a $0.8993 dividend. This represents a yield of 2.4%. The ex-dividend date was Friday, May 16th.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCEP. Barclays restated an "overweight" rating and set a $104.00 price target (up from $101.00) on shares of Coca-Cola Europacific Partners in a research report on Tuesday. UBS Group boosted their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.57.

Coca-Cola Europacific Partners 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.