Voya Investment Management LLC Reduces Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Voya Investment Management LLC lowered its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,248 shares of the company's stock after selling 7,596 shares during the period. Voya Investment Management LLC's holdings in Coca-Cola Europacific Partners were worth $2,707,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CCEP. SBI Securities Co. Ltd. acquired a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its position in Coca-Cola Europacific Partners by 85.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company's stock valued at $33,000 after acquiring an additional 197 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter worth $34,000. Whipplewood Advisors LLC bought a new position in Coca-Cola Europacific Partners in the 4th quarter valued at about $52,000. Finally, Blue Trust Inc. increased its position in Coca-Cola Europacific Partners by 16.2% in the fourth quarter. Blue Trust Inc. now owns 1,189 shares of the company's stock worth $94,000 after buying an additional 166 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Down 0.7 %

NASDAQ CCEP traded down $0.61 during trading hours on Thursday, hitting $90.44. The company had a trading volume of 453,484 shares, compared to its average volume of 1,715,486. Coca-Cola Europacific Partners PLC has a fifty-two week low of $70.82 and a fifty-two week high of $95.67. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. The company has a market capitalization of $41.69 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 4.89 and a beta of 0.77. The firm's 50 day moving average is $86.37 and its 200 day moving average is $81.13.

Coca-Cola Europacific Partners Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CCEP. UBS Group upped their target price on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Evercore ISI increased their price target on 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 target price on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.50.

Coca-Cola Europacific Partners 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.