Park Avenue Securities LLC Boosts Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Park Avenue Securities LLC grew its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,366 shares of the company’s stock after purchasing an additional 1,027 shares during the quarter. Park Avenue Securities LLC’s holdings in Coca-Cola Europacific Partners were worth $1,005,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Norges Bank purchased a new position in Coca-Cola Europacific Partners during the 4th quarter worth $68,360,000. Point72 Asset Management L.P. grew its stake in shares of Coca-Cola Europacific Partners by 89.3% during the fourth quarter. Point72 Asset Management L.P. now owns 2,156,056 shares of the company’s stock worth $143,895,000 after acquiring an additional 1,017,278 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Coca-Cola Europacific Partners by 800.5% during the fourth quarter. Public Sector Pension Investment Board now owns 663,146 shares of the company’s stock valued at $44,258,000 after acquiring an additional 589,500 shares in the last quarter. First Trust Advisors LP raised its position in shares of Coca-Cola Europacific Partners by 1,735.9% in the 4th quarter. First Trust Advisors LP now owns 456,425 shares of the company’s stock valued at $30,462,000 after purchasing an additional 431,564 shares during the last quarter. Finally, UBS Group AG boosted its stake in Coca-Cola Europacific Partners by 64.5% in the 4th quarter. UBS Group AG now owns 979,045 shares of the company’s stock worth $65,341,000 after purchasing an additional 384,000 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CCEP. Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Barclays lifted their price target on Coca-Cola Europacific Partners from $78.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Argus increased their price objective on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, StockNews.com downgraded Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a report on Sunday, May 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and an average target price of $76.44.

Coca-Cola Europacific Partners Stock Down 0.9 %

Coca-Cola Europacific Partners stock opened at $75.32 on Wednesday. Coca-Cola Europacific Partners PLC has a 52 week low of $56.28 and a 52 week high of $76.44. The business’s 50-day moving average price is $72.82 and its 200 day moving average price is $69.74. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 1.27.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, May 23rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.79 per share. This represents a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, May 9th.

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.