Merit Financial Group LLC Makes New Investment in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Merit Financial Group LLC bought a new position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,365 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors also recently bought and sold shares of CCEP. Norges Bank purchased a new position in Coca-Cola Europacific Partners during the fourth quarter worth about $190,999,000. Invesco Ltd. increased its position in shares of Coca-Cola Europacific Partners by 26.3% during the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after acquiring an additional 2,105,019 shares during the last quarter. Barclays PLC increased its position in shares of Coca-Cola Europacific Partners by 236.4% during the fourth quarter. Barclays PLC now owns 1,804,855 shares of the company’s stock valued at $138,631,000 after acquiring an additional 1,268,401 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Coca-Cola Europacific Partners by 43.3% during the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after acquiring an additional 872,060 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Coca-Cola Europacific Partners by 842.4% during the fourth quarter. Jane Street Group LLC now owns 714,988 shares of the company’s stock valued at $54,918,000 after acquiring an additional 639,119 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CCEP shares. Barclays lifted their price target 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. UBS Group lifted their price target 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. Kepler Capital Markets cut shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. Finally, Evercore ISI lifted 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and a consensus price target of $88.50.

Coca-Cola Europacific Partners Trading Up 0.7%

Shares of CCEP stock opened at $93.53 on Friday. Coca-Cola Europacific Partners PLC has a fifty-two week low of $71.49 and a fifty-two week high of $93.61. The company has a 50 day moving average price of $89.05 and a 200 day moving average price of $83.46. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The stock has a market capitalization of $43.11 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 4.89 and a beta of 0.78.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 16th were paid a $0.8993 dividend. The ex-dividend date was Friday, May 16th. This represents a yield of 2.4%. Coca-Cola Europacific Partners’s dividend payout ratio is currently 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.