Catalyst Funds Management Pty Ltd Sells 9,120 Shares of Coca-Cola Europacific Partners $CCEP

Catalyst Funds Management Pty Ltd cut its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 26.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,500 shares of the company’s stock after selling 9,120 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Coca-Cola Europacific Partners were worth $2,364,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 107.3% during the 1st quarter. Assetmark Inc. now owns 284 shares of the company’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 61.3% in the second quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $34,000 after purchasing an additional 138 shares in the last quarter. Motco increased its position in Coca-Cola Europacific Partners by 285.7% in the first quarter. Motco now owns 405 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Quarry LP increased its position in Coca-Cola Europacific Partners by 115.8% in the first quarter. Quarry LP now owns 436 shares of the company’s stock worth $38,000 after purchasing an additional 234 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Coca-Cola Europacific Partners during the second quarter valued at $67,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Down 0.9%

CCEP opened at $89.44 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The stock’s 50 day moving average price is $89.65 and its 200-day moving average price is $91.43. Coca-Cola Europacific Partners has a one year low of $73.40 and a one year high of $100.67. The stock has a market cap of $41.23 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.54 and a beta of 0.74.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Friday, November 14th will be given a dividend of $1.25 per share. This represents a dividend yield of 277.0%. The ex-dividend date is Friday, November 14th.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCEP. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, October 30th. Morgan Stanley downgraded Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 7th. Finally, Barclays dropped their target price on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.40.

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.