Wahed Invest LLC Invests $397,000 in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Wahed Invest LLC bought a new stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,173 shares of the company's stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cibc World Markets Corp boosted its position in Coca-Cola Europacific Partners by 1.4% during the fourth quarter. Cibc World Markets Corp now owns 10,200 shares of the company's stock worth $783,000 after purchasing an additional 139 shares in the last quarter. TIAA Trust National Association increased its position in Coca-Cola Europacific Partners by 4.4% during the 4th quarter. TIAA Trust National Association now owns 3,420 shares of the company's stock worth $263,000 after purchasing an additional 145 shares in the last quarter. Moody Lynn & Lieberson LLC grew its holdings in shares of Coca-Cola Europacific Partners by 5.0% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 3,149 shares of the company's stock worth $242,000 after buying an additional 150 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Coca-Cola Europacific Partners by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 53,142 shares of the company's stock valued at $4,087,000 after buying an additional 155 shares during the period. Finally, Blue Trust Inc. boosted its position in Coca-Cola Europacific Partners by 16.2% during the fourth quarter. Blue Trust Inc. now owns 1,189 shares of the company's stock worth $94,000 after acquiring an additional 166 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCEP has been the topic of a number of recent analyst reports. UBS Group increased their price target 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 upped their price target 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. Barclays boosted their price target on 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. 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 given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $88.50.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ:CCEP traded up $0.69 during trading on Tuesday, reaching $90.55. 1,766,380 shares of the company's stock traded hands, compared to its average volume of 1,722,218. 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 50 day moving average of $86.19 and a 200-day moving average of $80.99. Coca-Cola Europacific Partners PLC has a 12 month low of $70.82 and a 12 month high of $91.29. The stock has a market capitalization of $41.74 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 4.89 and a beta of 0.77.

Coca-Cola Europacific Partners Cuts Dividend

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

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.