Penserra Capital Management LLC Boosts Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Penserra Capital Management LLC grew its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 28,069.4% during the third quarter, HoldingsChannel reports. The fund owned 10,141 shares of the company’s stock after acquiring an additional 10,105 shares during the quarter. Penserra Capital Management LLC’s holdings in Coca-Cola Europacific Partners were worth $798,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Coca-Cola Europacific Partners by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,757,976 shares of the company’s stock valued at $217,191,000 after purchasing an additional 32,776 shares in the last quarter. Samlyn Capital LLC grew 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 buying an additional 349,466 shares during the last quarter. Millennium Management LLC raised its stake in shares of Coca-Cola Europacific Partners by 7.6% during the 2nd 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 in the last quarter. Point72 Asset Management L.P. lifted its position in 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 valued at $87,788,000 after acquiring an additional 711,121 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Coca-Cola Europacific Partners by 3.4% in the second quarter. Public Sector Pension Investment Board now owns 887,013 shares of the company’s stock valued at $64,637,000 after acquiring an additional 29,181 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 recent analyst reports. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft increased their price objective 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. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $82.00 in a research report on Wednesday. Finally, Barclays raised their price target on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Three 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, the stock has an average rating of “Moderate Buy” and an average price target of $81.78.

Coca-Cola Europacific Partners Stock Down 0.4 %

Shares of NASDAQ:CCEP opened at $77.63 on Thursday. Coca-Cola Europacific Partners PLC has a 12-month low of $59.31 and a 12-month high of $82.32. The business has a 50 day moving average of $77.67 and a two-hundred day moving average of $76.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63.

Coca-Cola Europacific Partners Increases Dividend

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

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.