Ninety One UK Ltd Trims Position 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% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,277,375 shares of the company's stock after selling 126,286 shares during the period. Ninety One UK Ltd owned about 0.28% of Coca-Cola Europacific Partners worth $111,170,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth $27,000. Optiver Holding B.V. purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth $29,000. HM Payson & Co. purchased a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth $33,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth $34,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

CCEP traded up $0.07 on Friday, reaching $95.52. The company had a trading volume of 1,223,620 shares, compared to its average volume of 1,825,075. Coca-Cola Europacific Partners has a 1 year low of $71.49 and a 1 year high of $97.23. The stock has a market capitalization of $44.03 billion, a PE ratio of 19.65, a P/E/G ratio of 4.82 and a beta of 0.77. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average price of $91.63 and a 200-day moving average price of $85.82.

Coca-Cola Europacific Partners Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.