68,804 Shares in Coca-Cola Europacific Partners (NASDAQ:CCEP) Bought by Retirement Systems of Alabama

Retirement Systems of Alabama purchased a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 68,804 shares of the company's stock, valued at approximately $5,988,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in Coca-Cola Europacific Partners by 26.3% during the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock worth $777,312,000 after acquiring an additional 2,105,019 shares during the period. FMR LLC lifted its position 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 worth $555,693,000 after acquiring an additional 229,679 shares during the period. Amundi lifted its position in Coca-Cola Europacific Partners by 2.9% during the 4th quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after acquiring an additional 87,675 shares during the period. JPMorgan Chase & Co. lifted its position in Coca-Cola Europacific Partners by 43.3% during the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock worth $221,835,000 after acquiring an additional 872,060 shares during the period. Finally, Norges Bank acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $190,999,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen raised Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a research report on Friday. UBS Group increased their price objective 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, Barclays increased their price objective on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.50.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock traded down $0.17 during trading on Friday, reaching $91.10. The company's stock had a trading volume of 1,897,857 shares, compared to its average volume of 1,799,737. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $94.74. The company has a market capitalization of $41.99 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 4.91 and a beta of 0.78. The business has a 50 day moving average price of $90.39 and a 200-day moving average price of $84.59.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 16th were issued a dividend of $0.8993 per share. The ex-dividend date was Friday, May 16th. This represents a 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.