Barclays PLC Cuts Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Barclays PLC lessened its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 23.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 536,454 shares of the company's stock after selling 164,584 shares during the quarter. Barclays PLC's holdings in Coca-Cola Europacific Partners were worth $42,245,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CCEP. New Millennium Group LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the second quarter worth approximately $37,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 38.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company's stock worth $40,000 after buying an additional 139 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Coca-Cola Europacific Partners in the third quarter valued at about $50,000. Family Firm Inc. acquired a new stake in shares of Coca-Cola Europacific Partners in the second quarter valued at about $56,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Coca-Cola Europacific Partners by 1,604.0% in the third quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company's stock worth $67,000 after buying an additional 802 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

CCEP stock traded down $0.25 during mid-day trading on Friday, hitting $78.86. 988,995 shares of the company were exchanged, compared to its average volume of 1,406,710. Coca-Cola Europacific Partners PLC has a 12-month low of $63.80 and a 12-month high of $82.32. The business has a fifty day simple moving average of $77.44 and a 200-day simple moving average of $76.46. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Coca-Cola Europacific Partners Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a dividend yield of 2.6%. This is a boost from Coca-Cola Europacific Partners's previous semi-annual dividend of $0.79.

Analyst Ratings Changes

A number of research firms have commented on CCEP. Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Citigroup upgraded Coca-Cola Europacific Partners to a "strong-buy" rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a "buy" rating in a report on Monday, September 9th. JPMorgan Chase & Co. lowered Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $85.00 to $82.00 in a report on Wednesday, November 27th. Finally, Sanford C. Bernstein began coverage on shares of Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a "market perform" rating and a $82.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.44.

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.