Allspring Global Investments Holdings LLC Sells 106,606 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Allspring Global Investments Holdings LLC reduced its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 14.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 623,778 shares of the company’s stock after selling 106,606 shares during the period. Allspring Global Investments Holdings LLC owned 0.14% of Coca-Cola Europacific Partners worth $43,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCEP. BKM Wealth Management LLC boosted its stake in Coca-Cola Europacific Partners by 31.7% in the first quarter. BKM Wealth Management LLC now owns 7,152 shares of the company’s stock valued at $500,000 after acquiring an additional 1,720 shares in the last quarter. Skyline Advisors Inc. acquired a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter worth $205,000. Hennion & Walsh Asset Management Inc. grew its stake in Coca-Cola Europacific Partners by 21.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,206 shares of the company’s stock worth $854,000 after buying an additional 2,150 shares during the last quarter. Transform Wealth LLC acquired a new position in Coca-Cola Europacific Partners during the 1st quarter valued at about $7,885,000. Finally, Gateway Investment Advisers LLC raised its stake in Coca-Cola Europacific Partners by 4.3% in the first quarter. Gateway Investment Advisers LLC now owns 39,905 shares of the company’s stock valued at $2,791,000 after buying an additional 1,662 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 1.2 %

NASDAQ CCEP opened at $73.59 on Thursday. The stock has a 50-day simple moving average of $73.39 and a two-hundred day simple moving average of $70.05. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27. Coca-Cola Europacific Partners PLC has a fifty-two week low of $56.28 and a fifty-two week high of $76.44.

Coca-Cola Europacific Partners Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.