Ibex Wealth Advisors Increases Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Ibex Wealth Advisors lifted its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 0.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 96,396 shares of the company’s stock after purchasing an additional 163 shares during the quarter. Ibex Wealth Advisors’ holdings in Coca-Cola Europacific Partners were worth $8,389,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CCEP. Bleakley Financial Group LLC raised its holdings in shares of Coca-Cola Europacific Partners by 14.8% during the 4th quarter. Bleakley Financial Group LLC now owns 11,104 shares of the company’s stock valued at $853,000 after buying an additional 1,434 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Coca-Cola Europacific Partners by 5.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 550,630 shares of the company’s stock worth $42,294,000 after purchasing an additional 28,867 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Coca-Cola Europacific Partners by 10.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,533 shares of the company’s stock worth $1,577,000 after purchasing an additional 1,864 shares during the period. Apollon Wealth Management LLC increased its stake in Coca-Cola Europacific Partners by 8.5% in the 4th quarter. Apollon Wealth Management LLC now owns 2,911 shares of the company’s stock worth $224,000 after purchasing an additional 228 shares during the period. Finally, Savant Capital LLC increased its stake in Coca-Cola Europacific Partners by 6.7% in the 4th quarter. Savant Capital LLC now owns 6,816 shares of the company’s stock worth $524,000 after purchasing an additional 429 shares during the period. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Down 1.3%

NASDAQ CCEP opened at $92.06 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners PLC has a twelve month low of $71.49 and a twelve month high of $93.49. The firm has a market capitalization of $42.43 billion, a PE ratio of 18.94, a P/E/G ratio of 4.89 and a beta of 0.78. The stock’s 50 day moving average is $88.60 and its 200 day moving average is $83.22.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 16th were given a dividend of $0.8993 per share. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners’s dividend payout ratio is presently 16.26%.

Analyst Upgrades and Downgrades

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

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.