Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 3.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,229,226 shares of the company’s stock after selling 47,760 shares during the period. Nordea Investment Management AB owned about 0.27% of Coca-Cola Europacific Partners worth $94,294,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CCEP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Coca-Cola Europacific Partners by 307.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company’s stock valued at $191,984,000 after acquiring an additional 1,839,321 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Coca-Cola Europacific Partners by 144.1% in 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 purchasing an additional 711,121 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Coca-Cola Europacific Partners in the third quarter valued at approximately $52,364,000. Point72 Europe London LLP purchased a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter worth approximately $26,341,000. Finally, Samlyn Capital LLC raised its position 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 last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $75.69 on Tuesday. The business’s fifty day moving average price is $77.04 and its 200 day moving average price is $76.83. Coca-Cola Europacific Partners PLC has a twelve month low of $64.73 and a twelve month high of $82.32. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $34.89 billion, a P/E ratio of 16.90, a PEG ratio of 3.85 and a beta of 0.90.

Coca-Cola Europacific Partners Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a dividend of $1.34 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a dividend 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’s payout ratio is presently 35.27%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CCEP. Sanford C. Bernstein initiated coverage on Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. 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 report on Wednesday, November 6th. Finally, UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and a consensus price target of $84.44.

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.