Gateway Investment Advisers LLC Lowers Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Gateway Investment Advisers LLC reduced its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 19.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,375 shares of the company’s stock after selling 7,363 shares during the period. Gateway Investment Advisers LLC’s holdings in Coca-Cola Europacific Partners were worth $2,731,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cibc World Markets Corp boosted its position in shares of Coca-Cola Europacific Partners by 1.4% during the 4th quarter. Cibc World Markets Corp now owns 10,200 shares of the company’s stock worth $783,000 after acquiring an additional 139 shares in the last quarter. TIAA Trust National Association lifted its stake in Coca-Cola Europacific Partners by 4.4% during the fourth quarter. TIAA Trust National Association now owns 3,420 shares of the company’s stock worth $263,000 after purchasing an additional 145 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Coca-Cola Europacific Partners by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 53,142 shares of the company’s stock valued at $4,087,000 after purchasing an additional 155 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 valued at $94,000 after purchasing an additional 166 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its stake in Coca-Cola Europacific Partners by 4.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 3,855 shares of the company’s stock valued at $296,000 after purchasing an additional 172 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Up 1.4%

Shares of NASDAQ:CCEP opened at $93.31 on Friday. Coca-Cola Europacific Partners PLC has a 1-year low of $71.49 and a 1-year high of $93.49. 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 stock has a market cap of $43.01 billion, a P/E ratio of 19.20, a P/E/G ratio of 4.89 and a beta of 0.77. The firm has a fifty day moving average price of $88.50 and a 200 day moving average price of $83.09.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were paid a dividend of $0.8993 per share. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners’s dividend payout ratio (DPR) is 16.26%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of 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. Evercore ISI boosted their price target 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. UBS Group upped their price objective on shares of 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. Finally, Kepler Capital Markets lowered Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.