New York Life Investment Management LLC bought a new position in shares of Coca-Cola Europacific Partners PLC (NYSE:CCEP – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,929 shares of the company’s stock, valued at approximately $253,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Coca-Cola Europacific Partners by 5.0% during the first quarter. BlackRock Inc. now owns 14,447,992 shares of the company’s stock worth $702,316,000 after purchasing an additional 685,745 shares during the last quarter. FMR LLC lifted its stake in Coca-Cola Europacific Partners by 11.5% during the first quarter. FMR LLC now owns 5,913,929 shares of the company’s stock worth $350,045,000 after purchasing an additional 610,612 shares during the last quarter. Ninety One UK Ltd lifted its stake in Coca-Cola Europacific Partners by 17.1% during the second quarter. Ninety One UK Ltd now owns 5,203,997 shares of the company’s stock worth $335,294,000 after purchasing an additional 758,888 shares during the last quarter. State Street Corp lifted its stake in Coca-Cola Europacific Partners by 0.5% during the first quarter. State Street Corp now owns 4,609,815 shares of the company’s stock worth $272,855,000 after purchasing an additional 21,053 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Coca-Cola Europacific Partners by 20.0% during the first quarter. Wellington Management Group LLP now owns 3,865,724 shares of the company’s stock worth $187,912,000 after purchasing an additional 643,635 shares during the last quarter. 29.50% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on CCEP. Barclays dropped their price target on Coca-Cola Europacific Partners from $74.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, October 12th. Evercore ISI dropped their price target on Coca-Cola Europacific Partners from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. Credit Suisse Group increased their price target on Coca-Cola Europacific Partners to €68.00 ($73.12) in a research note on Tuesday, August 15th. Finally, StockNews.com cut Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and a consensus price target of $68.46.
Coca-Cola Europacific Partners Price Performance
NYSE CCEP opened at $61.53 on Thursday. Coca-Cola Europacific Partners PLC has a twelve month low of $49.80 and a twelve month high of $66.79. The stock has a fifty day simple moving average of $60.43 and a 200 day simple moving average of $62.93. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.66 and a current ratio of 0.85.
Coca-Cola Europacific Partners Increases Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be issued a $1.23 dividend. This represents a yield of 3.2%. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.59. The ex-dividend date is Thursday, November 16th.
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.
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