Nordea Investment Management AB Trims Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Nordea Investment Management AB decreased its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,229,226 shares of the company's stock after selling 47,760 shares during the period. Nordea Investment Management AB owned 0.27% of Coca-Cola Europacific Partners worth $94,294,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CCEP. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 38.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company's stock worth $40,000 after acquiring an additional 139 shares during the period. Plato Investment Management Ltd bought a new position in shares of Coca-Cola Europacific Partners in the third quarter worth about $50,000. Brown Brothers Harriman & Co. boosted its stake in Coca-Cola Europacific Partners by 1,604.0% during the third quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company's stock valued at $67,000 after buying an additional 802 shares during the last quarter. Blue Trust Inc. boosted its stake in Coca-Cola Europacific Partners by 21.5% during the third quarter. Blue Trust Inc. now owns 1,023 shares of the company's stock valued at $75,000 after buying an additional 181 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Coca-Cola Europacific Partners during the second quarter valued at approximately $81,000. Institutional investors own 31.35% of the company's stock.

Analyst Ratings Changes

CCEP has been the subject of a number of research reports. Morgan Stanley raised Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. Barclays increased their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. UBS Group increased their price target on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Citigroup upgraded Coca-Cola Europacific Partners to a "strong-buy" rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.44.

Coca-Cola Europacific Partners Trading Up 0.2 %

Shares of NASDAQ CCEP traded up $0.15 during midday trading on Tuesday, hitting $75.84. The company's stock had a trading volume of 997,830 shares, compared to its average volume of 991,208. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. The business's 50 day moving average is $77.04 and its two-hundred day moving average is $76.83. Coca-Cola Europacific Partners PLC has a 12-month low of $64.73 and a 12-month high of $82.32. The firm has a market cap of $34.96 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 3.85 and a beta of 0.90.

Coca-Cola Europacific Partners Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were issued a dividend of $1.34 per share. This is an increase from Coca-Cola Europacific Partners's previous semi-annual dividend of $0.79. This represents a yield of 2.6%. The ex-dividend date was Friday, November 15th. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is presently 35.27%.

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.