Victory Capital Management Inc. Increases Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Victory Capital Management Inc. raised its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 110.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,671 shares of the company’s stock after acquiring an additional 156,620 shares during the period. Victory Capital Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $19,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Coca-Cola Europacific Partners by 14.0% in the third quarter. Commonwealth Equity Services LLC now owns 35,344 shares of the company’s stock valued at $2,208,000 after buying an additional 4,328 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Coca-Cola Europacific Partners in the 3rd quarter valued at $1,455,000. Raymond James & Associates boosted its stake in Coca-Cola Europacific Partners by 0.9% during the 3rd quarter. Raymond James & Associates now owns 222,513 shares of the company’s stock worth $13,903,000 after purchasing an additional 1,997 shares during the period. Advisor Partners II LLC grew its position in Coca-Cola Europacific Partners by 34.8% during the 3rd quarter. Advisor Partners II LLC now owns 4,709 shares of the company’s stock worth $294,000 after purchasing an additional 1,215 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in Coca-Cola Europacific Partners in the third quarter valued at $760,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $73.64 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27. Coca-Cola Europacific Partners PLC has a 52-week low of $56.28 and a 52-week high of $73.67. The company has a 50-day simple moving average of $70.08 and a 200-day simple moving average of $66.49.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last issued its earnings results on Friday, February 23rd. The company reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. On average, analysts predict that Coca-Cola Europacific Partners PLC will post 4.15 earnings per share for the current year.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 23rd. Investors of record on Friday, May 10th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a yield of 5.6%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCEP. Barclays increased their target price on shares of Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. StockNews.com raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a report on Monday, February 26th. UBS Group increased their price target on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Argus boosted their price objective on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, BNP Paribas upgraded shares of Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 target price for the company in a research note on Friday, January 12th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $75.78.

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.