QRG Capital Management Inc. Acquires New Position in Coca-Cola Europacific Partners (NASDAQ:CCEP)

QRG Capital Management Inc. purchased a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,225 shares of the company's stock, valued at approximately $281,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CCEP. SBI Securities Co. Ltd. bought a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth $27,000. NBC Securities Inc. bought a new position in Coca-Cola Europacific Partners in the 1st quarter worth about $28,000. Optiver Holding B.V. bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $29,000. Summit Securities Group LLC bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $52,000. Institutional investors own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group raised their target price on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Barclays raised their target price on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded down $0.29 during trading hours on Thursday, reaching $91.27. 1,722,990 shares of the company's stock traded hands, compared to its average volume of 1,796,286. The stock has a market cap of $42.07 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11. The firm's 50 day simple moving average is $90.36 and its 200-day simple moving average is $84.47. Coca-Cola Europacific Partners has a 12 month low of $71.49 and a 12 month high of $94.74.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders 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 dividend yield of 2.4%.

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.