First Trust Advisors LP Purchases 35,387 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

First Trust Advisors LP grew its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 425,565 shares of the company's stock after purchasing an additional 35,387 shares during the period. First Trust Advisors LP owned about 0.09% of Coca-Cola Europacific Partners worth $32,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its stake in Coca-Cola Europacific Partners by 9.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 285,414 shares of the company's stock worth $21,907,000 after buying an additional 23,660 shares during the period. Marshall Wace LLP increased its holdings in shares of Coca-Cola Europacific Partners by 203.0% in the fourth quarter. Marshall Wace LLP now owns 433,377 shares of the company's stock worth $33,288,000 after acquiring an additional 290,352 shares in the last quarter. Bridgewater Associates LP acquired a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter worth about $1,473,000. Mariner LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 4.1% during the 4th quarter. Mariner LLC now owns 56,993 shares of the company's stock valued at $4,377,000 after purchasing an additional 2,269 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Coca-Cola Europacific Partners by 236.4% during the 4th quarter. Barclays PLC now owns 1,804,855 shares of the company's stock valued at $138,631,000 after purchasing an additional 1,268,401 shares in the last quarter. 31.35% of the stock is owned by institutional investors.

Coca-Cola Europacific Partners Stock Up 2.0 %

NASDAQ:CCEP traded up $1.81 on Wednesday, hitting $90.74. 2,046,909 shares of the company's stock were exchanged, compared to its average volume of 1,716,142. The firm has a 50-day moving average price of $86.02 and a 200-day moving average price of $80.70. Coca-Cola Europacific Partners PLC has a 52 week low of $70.82 and a 52 week high of $91.29. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. The company has a market cap of $41.83 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 4.89 and a beta of 0.73.

Coca-Cola Europacific Partners Cuts Dividend

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

Analyst Ratings Changes

Several analysts have commented on CCEP shares. Barclays raised their target price on shares of Coca-Cola Europacific Partners from $99.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Evercore ISI raised their price objective 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. Kepler Capital Markets cut shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $88.38.

Coca-Cola Europacific Partners Company 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.