Parr Mcknight Wealth Management Group LLC Cuts Stock Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Parr Mcknight Wealth Management Group LLC lessened its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 30.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,762 shares of the company's stock after selling 13,015 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Coca-Cola Europacific Partners were worth $2,590,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional 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 in the fourth quarter valued at $27,000. NBC Securities Inc. bought a new position in shares of Coca-Cola Europacific Partners in the 1st quarter valued at about $28,000. Optiver Holding B.V. acquired a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth about $29,000. HM Payson & Co. acquired a new position in shares of Coca-Cola Europacific Partners during the 1st quarter worth about $33,000. Finally, Summit Securities Group LLC bought a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter valued at about $34,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCEP has been the topic of several research analyst reports. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. 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 report on Thursday, May 1st. Finally, UBS Group raised their target price on 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $89.13.

Coca-Cola Europacific Partners Trading Down 0.4%

NASDAQ:CCEP traded down $0.41 on Thursday, hitting $95.45. The stock had a trading volume of 1,358,371 shares, compared to its average volume of 1,825,708. The firm's fifty day simple moving average is $91.40 and its two-hundred day simple moving average is $85.55. 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 has a 1 year low of $71.49 and a 1 year high of $97.23.

Coca-Cola Europacific Partners Cuts Dividend

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

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.