Worldquant Millennium Advisors LLC raised its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,710 shares of the company's stock after buying an additional 5,930 shares during the period. Worldquant Millennium Advisors LLC's holdings in Coca-Cola Europacific Partners were worth $3,818,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CCEP. Assenagon Asset Management S.A. boosted its position in Coca-Cola Europacific Partners by 1.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,851 shares of the company's stock valued at $1,525,000 after buying an additional 260 shares in the last quarter. HB Wealth Management LLC lifted 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 lifted 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 lifted 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 lifted 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 and hedge funds own 31.35% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on CCEP. Barclays lifted their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. Evercore ISI lifted their price target on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, UBS Group lifted their price target on shares of 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 analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and a consensus price target of $88.50.
Check Out Our Latest Research Report on Coca-Cola Europacific Partners
Coca-Cola Europacific Partners Trading Up 1.0%
CCEP stock traded up $0.86 during midday trading on Friday, hitting $89.45. The stock had a trading volume of 1,387,734 shares, compared to its average volume of 1,745,837. The firm has a market cap 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. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners PLC has a 1-year low of $70.82 and a 1-year high of $91.37. The business has a fifty day moving average price of $87.45 and a two-hundred day moving average price of $82.08.
Coca-Cola Europacific Partners Cuts Dividend
The company also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 16th will be issued a $0.8993 dividend. The ex-dividend date is Friday, May 16th. This represents a yield of 2.4%. Coca-Cola Europacific Partners's payout ratio is 16.26%.
About Coca-Cola Europacific Partners
(
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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