SG Americas Securities LLC lowered its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 85.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,766 shares of the company's stock after selling 368,355 shares during the quarter. SG Americas Securities LLC's holdings in Coca-Cola Europacific Partners were worth $5,637,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in Coca-Cola Europacific Partners by 28.1% during the fourth quarter. LPL Financial LLC now owns 117,700 shares of the company's stock worth $9,041,000 after purchasing an additional 25,840 shares during the last quarter. JPMorgan Chase & Co. grew its stake in 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 valued at $221,835,000 after purchasing an additional 872,060 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $446,000. Amundi grew its stake in Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Amundi now owns 3,078,851 shares of the company's stock valued at $233,716,000 after purchasing an additional 87,675 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new position in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $12,075,000. Institutional investors and hedge funds own 31.35% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on CCEP shares. UBS Group raised their target price 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. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. Barclays lifted their price target on 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, Evercore ISI lifted their price target on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.50.
Read Our Latest Research Report on CCEP
Coca-Cola Europacific Partners Stock Performance
Shares of CCEP stock traded down $0.06 during midday trading on Monday, hitting $92.79. 1,827,896 shares of the company were exchanged, compared to its average volume of 1,785,445. The firm has a market capitalization of $42.77 billion, a P/E ratio of 19.09, a PEG ratio of 4.89 and a beta of 0.78. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The firm's 50 day moving average price is $89.49 and its two-hundred day moving average price is $83.75. Coca-Cola Europacific Partners PLC has a 52 week low of $71.49 and a 52 week high of $94.74.
Coca-Cola Europacific Partners Cuts Dividend
The company also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 16th were paid a $0.8993 dividend. The ex-dividend date was Friday, May 16th. This represents a yield of 2.4%. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is presently 16.26%.
Coca-Cola Europacific Partners Company Profile
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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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