MetLife Investment Management LLC Trims Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

MetLife Investment Management LLC trimmed its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,000 shares of the company’s stock after selling 600 shares during the quarter. MetLife Investment Management LLC’s holdings in Coca-Cola Europacific Partners were worth $1,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCEP. Massachusetts Financial Services Co. MA grew its holdings 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 worth $217,191,000 after acquiring an additional 32,776 shares during the period. Samlyn Capital LLC grew 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 worth $135,155,000 after purchasing an additional 349,466 shares during the period. Millennium Management LLC increased its holdings 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 valued at $119,217,000 after purchasing an additional 115,604 shares in 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. Finally, Public Sector Pension Investment Board boosted its holdings in Coca-Cola Europacific Partners by 3.4% during the second 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. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $78.39 on Friday. Coca-Cola Europacific Partners PLC has a 52 week low of $62.00 and a 52 week high of $82.32. The firm has a 50-day simple moving average of $77.37 and a 200-day simple moving average of $76.28. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were paid a $1.34 dividend. 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 of this dividend was Friday, November 15th.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BNP Paribas downgraded 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 research report on Tuesday, September 10th. Barclays increased their price target 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. Evercore ISI boosted 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. JPMorgan Chase & Co. lowered Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. Finally, Sanford C. Bernstein began coverage on shares of Coca-Cola Europacific Partners in a report on Tuesday. They issued a “market perform” rating and a $82.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.11.

Coca-Cola Europacific Partners Company 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.