Victory Capital Management Inc. Reduces Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Victory Capital Management Inc. decreased its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 287,736 shares of the company's stock after selling 16,706 shares during the quarter. Victory Capital Management Inc.'s holdings in Coca-Cola Europacific Partners were worth $22,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CCEP. Samlyn Capital LLC lifted its position 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 worth $135,155,000 after purchasing an additional 349,466 shares during the period. Millennium Management LLC raised its stake in Coca-Cola Europacific Partners by 7.6% during the second quarter. Millennium Management LLC now owns 1,636,023 shares of the company's stock worth $119,217,000 after buying an additional 115,604 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Coca-Cola Europacific Partners by 144.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company's stock valued at $87,788,000 after purchasing an additional 711,121 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Coca-Cola Europacific Partners by 3.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 887,013 shares of the company's stock worth $64,637,000 after buying an additional 29,181 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Coca-Cola Europacific Partners by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 556,862 shares of the company's stock valued at $40,567,000 after acquiring an additional 209,300 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCEP. Citigroup raised Coca-Cola Europacific Partners to a "strong-buy" rating in a research report on Thursday, October 3rd. Barclays upped their target price on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, September 9th. Evercore ISI upped their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Finally, BNP Paribas cut shares of Coca-Cola Europacific Partners from an "outperform" rating to a "neutral" rating and set a $81.00 price objective for the company. in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $81.22.

Coca-Cola Europacific Partners Stock Up 0.1 %

Shares of CCEP traded up $0.06 during trading hours on Tuesday, reaching $76.09. 1,088,192 shares of the stock traded hands, compared to its average volume of 1,395,620. Coca-Cola Europacific Partners PLC has a 52 week low of $59.31 and a 52 week high of $82.32. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $78.12 and a 200 day simple moving average of $75.97.

Coca-Cola Europacific Partners Increases Dividend

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

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.