Waverly Advisors LLC Has $927,000 Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Waverly Advisors LLC cut its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,067 shares of the company's stock after selling 2,797 shares during the period. Waverly Advisors LLC's holdings in Coca-Cola Europacific Partners were worth $927,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CCEP. Assenagon Asset Management S.A. raised its holdings in shares of Coca-Cola Europacific Partners by 1.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,851 shares of the company's stock worth $1,525,000 after buying an additional 260 shares in the last quarter. HB Wealth Management LLC grew its position in Coca-Cola Europacific Partners by 7.0% during the 4th quarter. HB Wealth Management LLC now owns 3,690 shares of the company's stock worth $283,000 after acquiring an additional 243 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Coca-Cola Europacific Partners by 85.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company's stock worth $33,000 after acquiring an additional 197 shares during the last quarter. FCG Investment Co grew its position in Coca-Cola Europacific Partners by 10.3% during the 4th quarter. FCG Investment Co now owns 5,649 shares of the company's stock worth $434,000 after acquiring an additional 526 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC grew its position in Coca-Cola Europacific Partners by 3.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 121,706 shares of the company's stock worth $9,348,000 after acquiring an additional 4,314 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Trading Down 0.7%

CCEP traded down $0.66 during mid-day trading on Tuesday, reaching $88.79. The stock had a trading volume of 2,660,158 shares, compared to its average volume of 1,749,494. The firm's fifty day simple moving average is $87.52 and its two-hundred day simple moving average is $82.23. 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 stock has a market capitalization of $40.93 billion, a P/E ratio of 18.27, a P/E/G ratio of 4.89 and a beta of 0.77. Coca-Cola Europacific Partners PLC has a 52 week low of $70.82 and a 52 week high of $91.37.

Coca-Cola Europacific Partners Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on CCEP. Barclays increased their price target 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. UBS Group increased their price target 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. Evercore ISI increased their price target 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. Finally, Kepler Capital Markets lowered Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.