State Street Corp lowered its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 7.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,831,032 shares of the company's stock after selling 402,723 shares during the period. State Street Corp's holdings in Coca-Cola Europacific Partners were worth $380,444,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Coca-Cola Europacific Partners by 307.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company's stock valued at $191,984,000 after buying an additional 1,839,321 shares during the period. Point72 Asset Management L.P. lifted its stake in Coca-Cola Europacific Partners by 144.1% in the second quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company's stock worth $87,788,000 after acquiring an additional 711,121 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Coca-Cola Europacific Partners during the 3rd quarter worth approximately $52,364,000. Point72 Europe London LLP purchased a new stake in shares of Coca-Cola Europacific Partners in the 2nd quarter valued at approximately $26,341,000. Finally, Samlyn Capital LLC raised its holdings in shares of Coca-Cola Europacific Partners by 23.2% in the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company's stock valued at $135,155,000 after purchasing an additional 349,466 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently commented on CCEP. Citigroup raised Coca-Cola Europacific Partners to a "strong-buy" rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $85.00 to $82.00 in a report on Wednesday, November 27th. BNP Paribas cut Coca-Cola Europacific Partners from an "outperform" rating to a "neutral" rating and set a $81.00 target price for the company. in a research note on Tuesday, September 10th. Sanford C. Bernstein initiated coverage on Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They issued a "market perform" rating and a $82.00 price target for the company. Finally, Morgan Stanley raised shares of Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a report on Monday. Four investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.11.
Check Out Our Latest Stock Report on CCEP
Coca-Cola Europacific Partners Trading Up 0.7 %
Shares of Coca-Cola Europacific Partners stock traded up $0.52 during trading on Tuesday, reaching $79.24. The company's stock had a trading volume of 2,078,947 shares, compared to its average volume of 1,408,941. The company has a 50-day moving average price of $77.34 and a two-hundred day moving average price of $76.38. Coca-Cola Europacific Partners PLC has a fifty-two week low of $62.93 and a fifty-two week high of $82.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85.
Coca-Cola Europacific Partners Increases Dividend
The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were paid a $1.34 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Coca-Cola Europacific Partners's previous semi-annual dividend of $0.79. This represents a yield of 2.6%.
Coca-Cola Europacific Partners Company Profile
(
Free Report)
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.
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