Retirement Systems of Alabama Takes Position in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Retirement Systems of Alabama acquired a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 68,804 shares of the company's stock, valued at approximately $5,988,000.

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

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded down $1.11 during trading hours on Wednesday, hitting $91.56. The stock had a trading volume of 1,774,008 shares, compared to its average volume of 1,795,384. Coca-Cola Europacific Partners has a 52 week low of $71.49 and a 52 week high of $94.74. The company's fifty day moving average is $90.32 and its two-hundred day moving average is $84.38. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.62. The stock has a market capitalization of $42.20 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 4.99 and a beta of 0.78.

Coca-Cola Europacific Partners Cuts Dividend

The business 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 was Friday, May 16th.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CCEP shares. UBS Group increased their price objective on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Barclays upped their target price on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. One 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 stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of "Moderate Buy" and an average price target of $88.50.

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.