Point72 Asset Management L.P. Purchases 394,372 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Point72 Asset Management L.P. lifted its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 232.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 563,829 shares of the company's stock after acquiring an additional 394,372 shares during the quarter. Point72 Asset Management L.P. owned 0.12% of Coca-Cola Europacific Partners worth $43,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in shares of Coca-Cola Europacific Partners by 28.1% during the 4th quarter. LPL Financial LLC now owns 117,700 shares of the company's stock valued at $9,041,000 after purchasing an additional 25,840 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $221,835,000 after buying an additional 872,060 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Coca-Cola Europacific Partners during the fourth quarter valued at approximately $446,000. Amundi increased its holdings in Coca-Cola Europacific Partners by 2.9% during the fourth quarter. Amundi now owns 3,078,851 shares of the company's stock valued at $233,716,000 after buying an additional 87,675 shares during the last quarter. Finally, Transform Wealth LLC raised its position in Coca-Cola Europacific Partners by 7.7% in the fourth quarter. Transform Wealth LLC now owns 138,691 shares of the company's stock worth $10,653,000 after acquiring an additional 9,864 shares during the period. Institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCEP. Evercore ISI boosted their price objective 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. Barclays boosted their price target on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. Finally, UBS Group boosted their price objective on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and an average target price of $88.50.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP traded up $0.34 during trading hours on Wednesday, reaching $88.90. The company's stock had a trading volume of 466,851 shares, compared to its average volume of 1,735,276. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners PLC has a 1 year low of $70.82 and a 1 year high of $91.37. The firm's 50-day moving average price is $87.18 and its 200-day moving average price is $81.86. The company has a market capitalization of $40.98 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 4.89 and a beta of 0.77.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be issued a $0.8993 dividend. This represents a dividend yield of 2.4%. The ex-dividend date is Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is presently 16.26%.

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.