Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Acquired by Fiduciary Trust Co

Fiduciary Trust Co grew its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 10.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,908 shares of the company’s stock after purchasing an additional 563 shares during the period. Fiduciary Trust Co’s holdings in Coca-Cola Europacific Partners were worth $454,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. raised its position in Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after purchasing an additional 2,105,019 shares during the last quarter. FMR LLC raised its position in Coca-Cola Europacific Partners by 3.3% in the 4th quarter. FMR LLC now owns 7,234,642 shares of the company’s stock valued at $555,693,000 after purchasing an additional 229,679 shares during the last quarter. Amundi raised its position in Coca-Cola Europacific Partners by 2.9% in the 4th quarter. Amundi now owns 3,078,851 shares of the company’s stock valued at $233,716,000 after purchasing an additional 87,675 shares during the last quarter. JPMorgan Chase & Co. raised its position in Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after purchasing an additional 872,060 shares during the last quarter. Finally, Norges Bank purchased a new stake in Coca-Cola Europacific Partners in the 4th quarter valued at $190,999,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Analysts Set New Price Targets

CCEP has been the subject of several research reports. Barclays upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Evercore ISI upped their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and an average target price of $88.50.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $89.44 on Monday. The company has a 50-day simple moving average of $86.50 and a 200-day simple moving average of $81.35. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $41.23 billion, a PE ratio of 18.40, a P/E/G ratio of 4.89 and a beta of 0.77. Coca-Cola Europacific Partners PLC has a 52-week low of $70.82 and a 52-week high of $91.37.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 16th will be issued a $0.8993 dividend. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 16th. Coca-Cola Europacific Partners’s dividend payout ratio is currently 16.26%.

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.