Parr Mcknight Wealth Management Group LLC Invests $3.29 Million in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Parr Mcknight Wealth Management Group LLC bought a new position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,777 shares of the company's stock, valued at approximately $3,286,000.

A number of other institutional investors have also recently bought and sold shares of CCEP. Vise Technologies Inc. grew its position in Coca-Cola Europacific Partners by 37.9% during the fourth quarter. Vise Technologies Inc. now owns 4,894 shares of the company's stock valued at $376,000 after acquiring an additional 1,346 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Coca-Cola Europacific Partners by 14.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 637,062 shares of the company's stock valued at $48,952,000 after purchasing an additional 80,300 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Coca-Cola Europacific Partners by 1.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company's stock worth $190,243,000 after purchasing an additional 38,911 shares during the period. Worldquant Millennium Advisors LLC increased its position in Coca-Cola Europacific Partners by 13.5% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 49,710 shares of the company's stock worth $3,818,000 after purchasing an additional 5,930 shares in the last quarter. Finally, State of Wyoming raised its holdings in Coca-Cola Europacific Partners by 444.7% in the fourth quarter. State of Wyoming now owns 7,686 shares of the company's stock valued at $590,000 after buying an additional 6,275 shares during the period. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CCEP has been the subject of several research reports. Evercore ISI boosted their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. UBS Group lifted their target price on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Barclays increased their price target on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Kepler Capital Markets cut Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $88.59 on Friday. The business has a 50 day simple moving average of $87.37 and a 200-day simple moving average of $82.00. Coca-Cola Europacific Partners PLC has a twelve month low of $70.82 and a twelve month high of $91.37. The company has a market capitalization of $40.84 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 4.89 and a beta of 0.77. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th will be paid a $0.8993 dividend. The ex-dividend date is Friday, May 16th. This represents a yield of 2.4%. Coca-Cola Europacific Partners's payout ratio is currently 16.26%.

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.

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