Royal Bank of Canada Buys 8,863 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Royal Bank of Canada grew its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 866,898 shares of the company’s stock after acquiring an additional 8,863 shares during the period. Royal Bank of Canada owned 0.19% of Coca-Cola Europacific Partners worth $66,586,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $27,000. Optiver Holding B.V. bought a new position in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Coca-Cola Europacific Partners by 85.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock valued at $33,000 after purchasing an additional 197 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $52,000. 31.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CCEP shares. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research note on Tuesday, February 25th. Evercore ISI increased their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, UBS Group increased their price objective on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.50.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP opened at $88.56 on Wednesday. The company has a market cap of $40.82 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 4.89 and a beta of 0.77. Coca-Cola Europacific Partners PLC has a twelve month low of $70.82 and a twelve month high of $91.37. 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 50 day moving average of $87.18 and a two-hundred day moving average of $81.86.

Coca-Cola Europacific Partners Cuts Dividend

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

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.