Cerity Partners LLC Reduces Stake in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Cerity Partners LLC trimmed its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,669 shares of the company’s stock after selling 408 shares during the quarter. Cerity Partners LLC’s holdings in Coca-Cola Europacific Partners were worth $1,451,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its position in Coca-Cola Europacific Partners by 26.3% during the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock worth $777,312,000 after acquiring an additional 2,105,019 shares during the last quarter. FMR LLC raised its position in Coca-Cola Europacific Partners by 3.3% during the fourth quarter. FMR LLC now owns 7,234,642 shares of the company’s stock worth $555,693,000 after acquiring an additional 229,679 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after buying an additional 872,060 shares during the last quarter. Norges Bank acquired a new position in shares of Coca-Cola Europacific Partners in the fourth quarter valued at approximately $190,999,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Coca-Cola Europacific Partners by 1.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company’s stock worth $190,243,000 after purchasing an additional 38,911 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $97.61 on Tuesday. 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 has a one year low of $71.49 and a one year high of $97.92. The company has a market capitalization of $44.99 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.90 and a beta of 0.77. The company’s 50-day moving average is $92.17 and its 200 day moving average is $86.61.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were given a $0.8993 dividend. This represents a yield of 2.4%. The ex-dividend date of this dividend was Friday, May 16th.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CCEP shares. UBS Group lifted their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Barclays reaffirmed an “overweight” rating and set a $104.00 target price (up from $101.00) on shares of Coca-Cola Europacific Partners in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $90.57.

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.