Panagora Asset Management Inc. Purchases 202,452 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Panagora Asset Management Inc. raised its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 546.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 239,494 shares of the company's stock after acquiring an additional 202,452 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.05% of Coca-Cola Europacific Partners worth $15,984,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Coca-Cola Europacific Partners by 3.7% in the third quarter. FMR LLC now owns 6,359,772 shares of the company's stock valued at $397,359,000 after buying an additional 225,744 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Coca-Cola Europacific Partners by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,525,434 shares of the company's stock valued at $157,789,000 after buying an additional 47,501 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Coca-Cola Europacific Partners by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 2,221,296 shares of the company's stock valued at $138,787,000 after buying an additional 168,420 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Coca-Cola Europacific Partners by 24.6% in the third quarter. Northern Trust Corp now owns 1,413,900 shares of the company's stock valued at $88,340,000 after buying an additional 279,218 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 4.2% in the third quarter. Ameriprise Financial Inc. now owns 1,383,485 shares of the company's stock valued at $86,060,000 after buying an additional 55,808 shares during the last quarter. 31.35% of the stock is owned by institutional investors.

Coca-Cola Europacific Partners Trading Down 0.5 %

Shares of Coca-Cola Europacific Partners stock traded down $0.41 during trading on Friday, hitting $74.51. 787,396 shares of the company were exchanged, compared to its average volume of 1,269,270. Coca-Cola Europacific Partners PLC has a 1-year low of $56.28 and a 1-year high of $75.43. The firm's fifty day moving average price is $70.75 and its 200 day moving average price is $67.28. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. Sell-side analysts anticipate that Coca-Cola Europacific Partners PLC will post 4.15 earnings per share for the current fiscal year.

Coca-Cola Europacific Partners Cuts Dividend

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

Analysts Set New Price Targets

CCEP has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, March 28th. Barclays lifted their price objective on Coca-Cola Europacific Partners from $78.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 14th. StockNews.com lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Sunday. UBS Group lifted their price objective on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, February 26th. Finally, Argus lifted their price objective on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $76.44.

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.