USS Investment Management Ltd Has $6.60 Million Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

USS Investment Management Ltd trimmed its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 19.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,923 shares of the company's stock after selling 20,455 shares during the quarter. USS Investment Management Ltd's holdings in Coca-Cola Europacific Partners were worth $6,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its stake in shares of Coca-Cola Europacific Partners by 1.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,851 shares of the company's stock worth $1,525,000 after acquiring an additional 260 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 7.0% during the fourth quarter. HB Wealth Management LLC now owns 3,690 shares of the company's stock worth $283,000 after purchasing an additional 243 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Coca-Cola Europacific Partners by 85.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company's stock worth $33,000 after purchasing an additional 197 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 120.8% during the fourth quarter. SG Americas Securities LLC now owns 433,121 shares of the company's stock worth $33,268,000 after purchasing an additional 236,917 shares during the period. Finally, FCG Investment Co boosted its holdings in shares of Coca-Cola Europacific Partners by 10.3% during the fourth quarter. FCG Investment Co now owns 5,649 shares of the company's stock worth $434,000 after purchasing an additional 526 shares during the period. Institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Up 1.0%

Shares of Coca-Cola Europacific Partners stock traded up $0.86 during trading on Friday, hitting $89.45. 1,387,734 shares of the company were exchanged, compared to its average volume of 1,745,837. The firm has a market capitalization of $41.23 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 4.89 and a beta of 0.77. Coca-Cola Europacific Partners PLC has a 1-year low of $70.82 and a 1-year high of $91.37. The firm's fifty day moving average price is $87.45 and its 200 day moving average price is $82.08. 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 Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be given a dividend of $0.8993 per share. The ex-dividend date is Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners's payout ratio is currently 16.26%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CCEP shares. Barclays lifted their target price on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Evercore ISI boosted their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Kepler Capital Markets cut Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. Finally, UBS Group increased their target price on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and an average price target 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.