Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Sold by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC lessened its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 30.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 29,762 shares of the company's stock after selling 13,015 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Coca-Cola Europacific Partners were worth $2,590,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Private Trust Co. NA lifted its position in Coca-Cola Europacific Partners by 6.0% during the first quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock valued at $176,000 after acquiring an additional 115 shares during the last quarter. Cibc World Markets Corp increased its stake in Coca-Cola Europacific Partners by 1.4% during the 4th quarter. Cibc World Markets Corp now owns 10,200 shares of the company's stock valued at $783,000 after purchasing an additional 139 shares in the last quarter. TIAA Trust National Association increased its stake in Coca-Cola Europacific Partners by 4.4% during the 4th quarter. TIAA Trust National Association now owns 3,420 shares of the company's stock valued at $263,000 after purchasing an additional 145 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Coca-Cola Europacific Partners by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 53,142 shares of the company's stock valued at $4,087,000 after purchasing an additional 155 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Coca-Cola Europacific Partners by 1.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,936 shares of the company's stock valued at $840,000 after purchasing an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CCEP. Barclays upped 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 note on Thursday, May 1st. UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and an average target price of $90.14.

Coca-Cola Europacific Partners Stock Performance

Shares of Coca-Cola Europacific Partners stock traded up $0.07 during trading on Friday, hitting $95.52. 1,223,620 shares of the company's stock were exchanged, compared to its average volume of 1,825,075. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81. The business has a 50-day simple moving average of $91.63 and a 200-day simple moving average of $85.82. Coca-Cola Europacific Partners has a 52-week low of $71.49 and a 52-week high of $97.23. The stock has a market capitalization of $44.03 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 4.82 and a beta of 0.77.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 16th were given a dividend of $0.8993 per share. The ex-dividend date 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.