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

Point72 Asset Management L.P. lifted its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 232.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. raised its position in Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock worth $777,312,000 after purchasing an additional 2,105,019 shares during the period. FMR LLC grew its stake in shares of Coca-Cola Europacific Partners by 3.3% during the fourth quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after buying an additional 229,679 shares during the last quarter. Amundi increased its holdings in shares of Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after buying an additional 87,675 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock valued at $221,835,000 after acquiring an additional 872,060 shares during the last quarter. Finally, Norges Bank purchased a new stake in Coca-Cola Europacific Partners during the 4th quarter valued at about $190,999,000. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Trading Up 0.4%

Coca-Cola Europacific Partners stock traded up $0.39 during mid-day trading on Monday, reaching $88.69. 1,183,998 shares of the company traded hands, compared to its average volume of 1,738,922. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. Coca-Cola Europacific Partners PLC has a 52-week low of $70.82 and a 52-week high of $91.37. The firm has a market capitalization of $40.88 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 4.89 and a beta of 0.77. The firm's 50 day moving average price is $86.94 and its 200 day moving average price is $81.72.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be paid 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 payout ratio is presently 16.26%.

Analyst Upgrades and Downgrades

CCEP has been the topic of a number of analyst reports. Barclays lifted their price target on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Evercore ISI lifted their target price on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. UBS Group increased their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently 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.