Hudson Bay Capital Management LP decreased its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 32.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,686 shares of the company's stock after selling 38,449 shares during the period. Hudson Bay Capital Management LP's holdings in Coca-Cola Europacific Partners were worth $6,197,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Coca-Cola Europacific Partners during the 4th quarter worth about $27,000. Optiver Holding B.V. bought a new position in Coca-Cola Europacific Partners during the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB grew its holdings 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 in the last quarter. Summit Securities Group LLC bought a new position in Coca-Cola Europacific Partners during the 4th quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new position in Coca-Cola Europacific Partners during the 4th quarter worth about $52,000. Institutional investors own 31.35% of the company's stock.
Coca-Cola Europacific Partners Stock Performance
Shares of Coca-Cola Europacific Partners stock traded up $1.19 during midday trading on Thursday, hitting $87.81. The company had a trading volume of 2,142,633 shares, compared to its average volume of 1,733,753. The stock has a market cap of $40.48 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 4.89 and a beta of 0.77. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $86.70 and a 200 day simple moving average of $81.49. Coca-Cola Europacific Partners PLC has a 12-month low of $70.82 and a 12-month high of $91.37.
Coca-Cola Europacific Partners Cuts Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th will be given a dividend of $0.8993 per share. This represents a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio is presently 16.26%.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Barclays increased their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. UBS Group increased their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Evercore ISI increased their price target on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and a consensus price target of $88.50.
Check Out Our Latest Research Report on CCEP
Coca-Cola Europacific Partners Company Profile
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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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