Cannell & Co. Sells 15,515 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Cannell & Co. lessened its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 492,594 shares of the company's stock after selling 15,515 shares during the period. Coca-Cola Europacific Partners accounts for about 1.0% of Cannell & Co.'s portfolio, making the stock its 29th biggest holding. Cannell & Co. owned about 0.11% of Coca-Cola Europacific Partners worth $32,876,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its holdings in Coca-Cola Europacific Partners by 6.3% in the third quarter. Asset Management One Co. Ltd. now owns 83,938 shares of the company's stock valued at $5,244,000 after purchasing an additional 4,987 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Coca-Cola Europacific Partners by 14.0% in the third quarter. Commonwealth Equity Services LLC now owns 35,344 shares of the company's stock valued at $2,208,000 after acquiring an additional 4,328 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Coca-Cola Europacific Partners by 38.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,718 shares of the company's stock valued at $3,044,000 after purchasing an additional 13,452 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Coca-Cola Europacific Partners during the 3rd quarter worth approximately $1,455,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Coca-Cola Europacific Partners by 34.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 566,206 shares of the company's stock worth $35,377,000 after purchasing an additional 146,306 shares during the period. 31.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCEP. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the stock a "buy" rating in a research report on Thursday, March 28th. StockNews.com upgraded Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a report on Monday, February 26th. BNP Paribas raised Coca-Cola Europacific Partners from a "neutral" rating to an "outperform" rating and set a $79.00 price objective on the stock in a research note on Friday, January 12th. Argus upped their target price on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Finally, UBS Group lifted their target price on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, February 26th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $75.78.

Coca-Cola Europacific Partners Trading Down 0.6 %

Coca-Cola Europacific Partners stock traded down $0.43 during mid-day trading on Wednesday, reaching $71.59. The stock had a trading volume of 1,131,084 shares, compared to its average volume of 1,515,269. Coca-Cola Europacific Partners PLC has a fifty-two week low of $56.28 and a fifty-two week high of $72.67. The stock's 50-day simple moving average is $69.78 and its 200-day simple moving average is $65.95. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) last posted its quarterly earnings results on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. Equities research analysts forecast that Coca-Cola Europacific Partners PLC will post 4.18 EPS for the current year.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Friday, May 10th will be given a dividend of $0.79 per share. This represents a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, May 9th.

About Coca-Cola Europacific Partners

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.