Princeton Global Asset Management LLC Acquires Shares of 93,437 Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Princeton Global Asset Management LLC bought a new stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 93,437 shares of the company's stock, valued at approximately $8,132,000. Coca-Cola Europacific Partners accounts for 1.6% of Princeton Global Asset Management LLC's holdings, making the stock its 15th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock valued at $777,312,000 after acquiring an additional 2,105,019 shares in the last quarter. FMR LLC increased its stake in shares of Coca-Cola Europacific Partners by 3.3% in the 4th quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after acquiring an additional 229,679 shares in the last quarter. Amundi increased its stake in shares of Coca-Cola Europacific Partners by 2.9% in the 4th quarter. Amundi now owns 3,078,851 shares of the company's stock valued at $233,716,000 after acquiring an additional 87,675 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock valued at $221,835,000 after acquiring an additional 872,060 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter valued at $190,999,000. Institutional investors and hedge funds own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CCEP shares. Barclays lifted their price objective 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. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. UBS Group boosted their target price on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Evercore ISI boosted their target price on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and an average price target of $88.50.

Coca-Cola Europacific Partners Stock Up 0.9%

CCEP traded up $0.83 during mid-day trading on Tuesday, reaching $92.89. 1,149,143 shares of the stock were exchanged, compared to its average volume of 1,787,185. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The stock has a market capitalization of $42.82 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 4.89 and a beta of 0.78. The company has a 50 day moving average price of $88.66 and a two-hundred day moving average price of $83.29. Coca-Cola Europacific Partners PLC has a 1 year low of $71.49 and a 1 year high of $93.49.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were issued a dividend of $0.8993 per share. This represents a yield of 2.4%. The ex-dividend date of this dividend was Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is presently 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.