Ritholtz Wealth Management Reduces Stock Holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Ritholtz Wealth Management decreased its position in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,756 shares of the company’s stock after selling 250 shares during the period. Ritholtz Wealth Management’s holdings in Coca-Cola Europacific Partners were worth $1,371,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Coca-Cola Europacific Partners by 2.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 46,688 shares of the company’s stock valued at $4,063,000 after purchasing an additional 1,097 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its stake in Coca-Cola Europacific Partners by 2.8% in the first quarter. Elevation Point Wealth Partners LLC now owns 17,078 shares of the company’s stock valued at $1,486,000 after purchasing an additional 469 shares during the last quarter. Transform Wealth LLC lifted its stake in Coca-Cola Europacific Partners by 6.0% in the first quarter. Transform Wealth LLC now owns 146,990 shares of the company’s stock valued at $12,793,000 after purchasing an additional 8,299 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in Coca-Cola Europacific Partners by 82.0% in the first quarter. Redhawk Wealth Advisors Inc. now owns 11,687 shares of the company’s stock valued at $1,017,000 after purchasing an additional 5,264 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Coca-Cola Europacific Partners by 13.7% in the first quarter. Handelsbanken Fonder AB now owns 152,980 shares of the company’s stock valued at $13,314,000 after purchasing an additional 18,492 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

Coca-Cola Europacific Partners Trading Down 0.6%

Coca-Cola Europacific Partners stock opened at $92.20 on Wednesday. The stock has a market cap of $42.50 billion, a P/E ratio of 18.97, a PEG ratio of 5.00 and a beta of 0.78. Coca-Cola Europacific Partners has a fifty-two week low of $71.49 and a fifty-two week high of $94.74. The firm’s fifty day moving average price is $89.63 and its 200-day moving average price is $83.81. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were issued a $0.8993 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners’s payout ratio is currently 16.26%.

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.