Point72 Hong Kong Ltd Makes New Investment in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Point72 Hong Kong Ltd purchased a new stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 25,117 shares of the company’s stock, valued at approximately $1,978,000.

A number of other institutional investors have also recently modified their holdings of the business. Icon Wealth Advisors LLC purchased a new stake in shares of Coca-Cola Europacific Partners during the 3rd quarter worth $105,000. Rockefeller Capital Management L.P. boosted its holdings in Coca-Cola Europacific Partners by 2.5% during the third quarter. Rockefeller Capital Management L.P. now owns 34,823 shares of the company’s stock worth $2,738,000 after buying an additional 855 shares in the last quarter. PEAK6 Investments LLC purchased a new stake in Coca-Cola Europacific Partners during the third quarter worth about $234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Coca-Cola Europacific Partners by 307.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company’s stock worth $191,984,000 after buying an additional 1,839,321 shares during the period. Finally, Fiduciary Trust Co increased its holdings in Coca-Cola Europacific Partners by 7.6% in the third quarter. Fiduciary Trust Co now owns 5,345 shares of the company’s stock valued at $421,000 after buying an additional 377 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CCEP has been the topic of several research analyst reports. Barclays boosted their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. BNP Paribas lowered shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a research report on Tuesday, September 10th. Evercore ISI raised their target price on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $82.00 in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and an average price target of $81.78.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $77.58 on Monday. Coca-Cola Europacific Partners PLC has a 1 year low of $59.31 and a 1 year high of $82.32. The company’s 50 day simple moving average is $77.52 and its 200 day simple moving average is $76.22. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $1.34 dividend. The ex-dividend date is Friday, November 15th. This represents a dividend yield of 2.6%. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79.

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.