Ninety One UK Ltd Cuts Stock Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Ninety One UK Ltd reduced its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,277,375 shares of the company's stock after selling 126,286 shares during the period. Ninety One UK Ltd owned 0.28% of Coca-Cola Europacific Partners worth $111,170,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CCEP. SBI Securities Co. Ltd. bought a new position in shares of Coca-Cola Europacific Partners during the fourth quarter valued at about $27,000. NBC Securities Inc. bought a new position in shares of Coca-Cola Europacific Partners during the first quarter valued at about $28,000. Optiver Holding B.V. bought a new stake in Coca-Cola Europacific Partners in the fourth quarter worth about $29,000. HM Payson & Co. bought a new stake in Coca-Cola Europacific Partners in the first quarter worth about $33,000. Finally, Summit Securities Group LLC bought a new stake in Coca-Cola Europacific Partners in the fourth quarter worth about $34,000. 31.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on CCEP shares. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Barclays lifted their price objective on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.14.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock traded down $0.36 during trading on Friday, hitting $95.09. The stock had a trading volume of 213,057 shares, compared to its average volume of 2,209,600. The firm has a market cap of $43.83 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 4.87 and a beta of 0.77. Coca-Cola Europacific Partners has a 12 month low of $71.49 and a 12 month high of $97.23. The business's 50-day moving average is $91.52 and its 200 day moving average is $85.69. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11.

Coca-Cola Europacific Partners Cuts Dividend

The business 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 of this dividend was Friday, May 16th. This represents a yield of 2.4%.

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.