Rhumbline Advisers Sells 163 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Rhumbline Advisers lowered its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,517 shares of the company’s stock after selling 163 shares during the quarter. Rhumbline Advisers’ holdings in Coca-Cola Europacific Partners were worth $7,181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Apollon Wealth Management LLC increased its stake in shares of Coca-Cola Europacific Partners by 8.5% in the fourth quarter. Apollon Wealth Management LLC now owns 2,911 shares of the company’s stock valued at $224,000 after buying an additional 228 shares during the period. Savant Capital LLC increased its stake in shares of Coca-Cola Europacific Partners by 6.7% in the fourth quarter. Savant Capital LLC now owns 6,816 shares of the company’s stock valued at $524,000 after buying an additional 429 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Coca-Cola Europacific Partners by 28.7% in the fourth quarter. Vontobel Holding Ltd. now owns 329,422 shares of the company’s stock valued at $24,651,000 after buying an additional 73,393 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Coca-Cola Europacific Partners by 29.7% in the fourth quarter. V Square Quantitative Management LLC now owns 9,130 shares of the company’s stock valued at $704,000 after buying an additional 2,092 shares during the period. Finally, Principal Securities Inc. increased its stake in shares of Coca-Cola Europacific Partners by 12.6% in the fourth quarter. Principal Securities Inc. now owns 8,878 shares of the company’s stock valued at $682,000 after buying an additional 994 shares during the period. Institutional investors own 31.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CCEP shares. Evercore ISI upped their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Barclays increased their target price on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. Finally, UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.50.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $92.86 on Thursday. The company has a market cap of $42.80 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 4.89 and a beta of 0.78. Coca-Cola Europacific Partners PLC has a 52 week low of $71.49 and a 52 week high of $93.49. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $88.84 and a 200-day moving average of $83.35.

Coca-Cola Europacific Partners Cuts Dividend

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

Coca-Cola Europacific Partners Company 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.