Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 56.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,542,368 shares of the company's stock after buying an additional 555,388 shares during the quarter. Northern Trust Corp owned approximately 0.33% of Coca-Cola Europacific Partners worth $118,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of Coca-Cola Europacific Partners by 2.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 75,406 shares of the company's stock worth $5,792,000 after buying an additional 1,594 shares in the last quarter. Optiver Holding B.V. purchased a new position in Coca-Cola Europacific Partners in the fourth quarter worth $29,000. Susquehanna Fundamental Investments LLC acquired a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at $631,000. Price T Rowe Associates Inc. MD boosted its position in shares of Coca-Cola Europacific Partners by 30.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 66,975 shares of the company's stock worth $5,145,000 after purchasing an additional 15,806 shares in the last quarter. Finally, Quantessence Capital LLC acquired a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth $999,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Trading Down 0.3 %

Shares of NASDAQ CCEP traded down $0.29 during midday trading on Friday, reaching $89.49. 906,224 shares of the stock were exchanged, compared to its average volume of 1,716,464. The company has a market capitalization of $41.25 billion, a P/E ratio of 18.41, a P/E/G ratio of 4.89 and a beta of 0.77. Coca-Cola Europacific Partners PLC has a 52-week low of $70.82 and a 52-week high of $91.37. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The stock has a 50 day moving average price of $86.43 and a 200-day moving average price of $81.21.

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 issued a $0.8993 dividend. 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%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays upped their target price 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, May 1st. Kepler Capital Markets cut Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. UBS Group upped their target price on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Evercore ISI boosted 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 research report on Tuesday, February 18th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.