Sumitomo Mitsui Trust Group Inc. Trims Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 521,763 shares of the company’s stock after selling 5,008 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $41,089,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Samlyn Capital LLC lifted its stake in shares of Coca-Cola Europacific Partners by 23.2% during the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock valued at $135,155,000 after buying an additional 349,466 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Coca-Cola Europacific Partners by 7.6% in the second quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock worth $119,217,000 after acquiring an additional 115,604 shares during the period. Point72 Asset Management L.P. grew its position in shares of Coca-Cola Europacific Partners by 144.1% during the second quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock worth $87,788,000 after purchasing an additional 711,121 shares in the last quarter. Public Sector Pension Investment Board raised its stake in 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 valued at $64,637,000 after purchasing an additional 29,181 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Coca-Cola Europacific Partners in the 1st quarter worth approximately $47,839,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Evercore ISI raised their price objective on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. BNP Paribas cut Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price on the stock. in a report on Tuesday, September 10th. Finally, Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus target price of $81.22.

Coca-Cola Europacific Partners Stock Down 3.8 %

NASDAQ:CCEP opened at $75.76 on Friday. 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 business has a 50 day simple moving average of $78.33 and a 200-day simple moving average of $75.85. Coca-Cola Europacific Partners PLC has a 1 year low of $59.31 and a 1 year high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

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

About Coca-Cola Europacific Partners

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.