Verde Servicos Internacionais S.A. acquired a new stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 183,883 shares of the company's stock, valued at approximately $14,124,000. Coca-Cola Europacific Partners makes up 6.1% of Verde Servicos Internacionais S.A.'s portfolio, making the stock its 5th biggest position.
Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Coca-Cola Europacific Partners by 85.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company's stock valued at $33,000 after buying an additional 197 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in 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 valued at $40,000 after acquiring an additional 139 shares during the period. Plato Investment Management Ltd acquired a new stake in Coca-Cola Europacific Partners during the third quarter worth about $50,000. Brown Brothers Harriman & Co. raised its holdings in shares of Coca-Cola Europacific Partners by 1,604.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company's stock worth $67,000 after purchasing an additional 802 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Coca-Cola Europacific Partners by 21.5% in the 3rd quarter. Blue Trust Inc. now owns 1,023 shares of the company's stock valued at $75,000 after purchasing an additional 181 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CCEP has been the subject of a number of research analyst reports. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Evercore ISI lifted their price target on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Morgan Stanley upgraded Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. Sanford C. Bernstein initiated coverage on shares of Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They issued a "market perform" rating and a $82.00 price target for the company. Finally, JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $85.00 to $82.00 in a research note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $84.11.
View Our Latest Research Report on CCEP
Coca-Cola Europacific Partners Trading Down 1.1 %
Shares of NASDAQ CCEP traded down $0.90 during midday trading on Friday, reaching $78.42. 820,904 shares of the company traded hands, compared to its average volume of 1,530,387. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. The stock has a 50-day moving average price of $76.94 and a 200 day moving average price of $77.13. Coca-Cola Europacific Partners PLC has a 52 week low of $65.77 and a 52 week high of $82.32.
Coca-Cola Europacific Partners Increases Dividend
The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a dividend of $1.34 per share. This is a positive change from Coca-Cola Europacific Partners's previous semi-annual dividend of $0.79. The ex-dividend date of this dividend was Friday, November 15th. This represents a dividend yield of 2.6%.
About Coca-Cola Europacific Partners
(
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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