Victory Capital Management Inc. Sells 12,660 Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP)

Victory Capital Management Inc. reduced its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 4.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 274,834 shares of the company's stock after selling 12,660 shares during the period. Victory Capital Management Inc. owned 0.06% of Coca-Cola Europacific Partners worth $23,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,936 shares of the company's stock valued at $840,000 after acquiring an additional 174 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 37.8% during the 4th quarter. Corient Private Wealth LLC now owns 4,413 shares of the company's stock worth $339,000 after buying an additional 1,211 shares during the period. Xponance Inc. acquired a new position in shares of Coca-Cola Europacific Partners in the fourth quarter valued at approximately $219,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Coca-Cola Europacific Partners by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,768 shares of the company's stock valued at $4,437,000 after purchasing an additional 528 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at $12,005,000. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $97.61 on Tuesday. Coca-Cola Europacific Partners has a fifty-two week low of $71.49 and a fifty-two week high of $97.92. The company has a 50 day simple moving average of $92.17 and a two-hundred day simple moving average of $86.61. The company has a market capitalization of $44.99 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.90 and a beta of 0.77. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were issued a dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date was Friday, May 16th.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Barclays reissued an "overweight" rating and set a $104.00 price objective (up from $101.00) on shares of Coca-Cola Europacific Partners in a report on Tuesday, July 15th. Finally, UBS Group lifted their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $90.57.

About Coca-Cola Europacific Partners

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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