Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC grew its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,300 shares of the company's stock after buying an additional 6,300 shares during the quarter. MetLife Investment Management LLC's holdings in Coca-Cola Europacific Partners were worth $1,866,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CCEP. Norges Bank bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth approximately $190,999,000. Invesco Ltd. raised its holdings in Coca-Cola Europacific Partners by 26.3% during the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock valued at $777,312,000 after buying an additional 2,105,019 shares during the period. Barclays PLC lifted its position in Coca-Cola Europacific Partners by 236.4% in the fourth quarter. Barclays PLC now owns 1,804,855 shares of the company's stock worth $138,631,000 after buying an additional 1,268,401 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Coca-Cola Europacific Partners by 43.3% during the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock worth $221,835,000 after buying an additional 872,060 shares during the period. Finally, Marshall Wace LLP increased its position in Coca-Cola Europacific Partners by 203.0% during the fourth quarter. Marshall Wace LLP now owns 433,377 shares of the company's stock valued at $33,288,000 after acquiring an additional 290,352 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Up 0.2 %

CCEP stock traded up $0.17 on Friday, hitting $89.71. 1,704,267 shares of the company's stock were exchanged, compared to its average volume of 1,719,726. The firm has a 50 day moving average price of $86.11 and a two-hundred day moving average price of $80.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. Coca-Cola Europacific Partners PLC has a 12-month low of $70.82 and a 12-month high of $91.29. The stock has a market cap of $41.35 billion, a P/E ratio of 18.46, 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 disclosed a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is presently 16.26%.

Analysts Set New Price Targets

CCEP has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research report on Thursday. Evercore ISI boosted their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. UBS Group lifted their target price on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

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.