Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by Ethic Inc.

Ethic Inc. reduced its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,646 shares of the company’s stock after selling 2,106 shares during the quarter. Ethic Inc.’s holdings in Coca-Cola Europacific Partners were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of 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 raised its holdings in Coca-Cola Europacific Partners by 3.3% in 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 period. Amundi lifted its position 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 in the last quarter. JPMorgan Chase & Co. lifted 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 in the last quarter. Finally, Norges Bank purchased a new stake in Coca-Cola Europacific Partners during the fourth quarter worth approximately $190,999,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Down 2.0%

NASDAQ:CCEP opened at $87.67 on Tuesday. Coca-Cola Europacific Partners PLC has a one year low of $70.82 and a one year high of $91.37. The business’s 50-day simple moving average is $86.56 and its 200 day simple moving average is $81.42. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The stock has a market cap of $40.41 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 4.89 and a beta of 0.77.

Coca-Cola Europacific Partners Cuts Dividend

The firm 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 dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 16th. Coca-Cola Europacific Partners’s dividend payout ratio (DPR) is currently 16.26%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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. Evercore ISI upped their target price on 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 increased their target price on 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, UBS Group boosted their price target on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and an average price target of $88.50.

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.