Coca-Cola Europacific Partners $CCEP Shares Sold by M&G PLC

M&G PLC cut its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 28.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,578 shares of the company’s stock after selling 35,314 shares during the period. M&G PLC’s holdings in Coca-Cola Europacific Partners were worth $8,331,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its stake in Coca-Cola Europacific Partners by 2.1% during the 1st quarter. Invesco Ltd. now owns 10,335,894 shares of the company’s stock valued at $899,533,000 after purchasing an additional 215,966 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 462.7% during the 1st quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company’s stock valued at $862,167,000 after buying an additional 8,126,996 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Coca-Cola Europacific Partners by 24.3% during the first quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company’s stock worth $540,050,000 after buying an additional 1,214,493 shares in the last quarter. Amundi increased its stake in shares of Coca-Cola Europacific Partners by 1.6% in the first quarter. Amundi now owns 3,128,598 shares of the company’s stock worth $281,009,000 after buying an additional 49,747 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Coca-Cola Europacific Partners by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 3,030,119 shares of the company’s stock valued at $263,711,000 after acquiring an additional 142,019 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 0.2%

Shares of NASDAQ:CCEP opened at $93.30 on Thursday. The company has a 50 day moving average of $89.55 and a 200-day moving average of $91.40. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15. The firm has a market cap of $43.01 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.54 and a beta of 0.74. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67.

Coca-Cola Europacific Partners Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, December 3rd. Investors of record on Friday, November 14th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a yield of 283.0%.

Analysts Set New Price Targets

CCEP has been the subject of a number of research analyst reports. Barclays lowered their price target on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Finally, Morgan Stanley cut shares of Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.40.

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.