Public Employees Retirement System of Ohio Lowers Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Public Employees Retirement System of Ohio decreased its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 59.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,100 shares of the company's stock after selling 28,525 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Coca-Cola Europacific Partners were worth $1,467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCEP. SBI Securities Co. Ltd. acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at approximately $27,000. Optiver Holding B.V. acquired a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $29,000. Summit Securities Group LLC bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth $34,000. Whipplewood Advisors LLC acquired a new stake in Coca-Cola Europacific Partners in the 4th quarter valued at about $52,000. Finally, Blue Trust Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 16.2% during the 4th quarter. Blue Trust Inc. now owns 1,189 shares of the company's stock worth $94,000 after acquiring an additional 166 shares during the last quarter. 31.35% of the stock is owned by institutional investors.

Coca-Cola Europacific Partners Trading Up 1.2%

NASDAQ:CCEP traded up $1.06 during mid-day trading on Thursday, reaching $92.03. 1,369,212 shares of the company's stock traded hands, compared to its average volume of 1,781,184. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. Coca-Cola Europacific Partners PLC has a 12-month low of $71.49 and a 12-month high of $95.65. The firm has a market capitalization of $42.42 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 4.89 and a beta of 0.77. The company has a 50 day moving average price of $88.28 and a 200-day moving average price of $82.81.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were given a $0.8993 dividend. This represents a dividend 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 Upgrades and Downgrades

Several research firms have weighed in on CCEP. UBS Group increased their price target 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. Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. Barclays lifted 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 report on Thursday, May 1st. Finally, Evercore ISI increased their target price on 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 research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.50.

Coca-Cola Europacific Partners 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.