Princeton Global Asset Management LLC acquired a new stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 93,437 shares of the company's stock, valued at approximately $8,132,000. Coca-Cola Europacific Partners makes up 1.6% of Princeton Global Asset Management LLC's portfolio, making the stock its 15th biggest position.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in Coca-Cola Europacific Partners by 26.3% in the fourth 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 during the last quarter. FMR LLC increased its stake in Coca-Cola Europacific Partners by 3.3% during the 4th quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after purchasing an additional 229,679 shares in the last quarter. Amundi increased its position in shares of Coca-Cola Europacific Partners by 2.9% during the fourth quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after acquiring an additional 87,675 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock worth $221,835,000 after purchasing an additional 872,060 shares during the last quarter. Finally, Norges Bank purchased a new stake in Coca-Cola Europacific Partners in the 4th quarter valued at $190,999,000. 31.35% of the stock is currently owned by institutional investors.
Coca-Cola Europacific Partners Stock Up 1.4%
CCEP opened at $93.31 on Friday. The business's fifty day simple moving average is $88.50 and its 200 day simple moving average is $83.04. Coca-Cola Europacific Partners PLC has a 52 week low of $71.49 and a 52 week high of $93.49. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a market cap of $43.01 billion, a PE ratio of 19.20, a P/E/G ratio of 4.89 and a beta of 0.77.
Coca-Cola Europacific Partners Cuts Dividend
The company also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were paid a $0.8993 dividend. 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 is currently 16.26%.
Analyst Ratings Changes
Several equities research analysts have commented on CCEP shares. Barclays increased 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 cut Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. UBS Group increased their target price on 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 raised their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.50.
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About Coca-Cola Europacific Partners
(
Free Report)
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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Want to see what other hedge funds are holding CCEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report).
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