Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,126 shares of the company’s stock, valued at approximately $482,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC acquired a new position in Coca-Cola Europacific Partners in the 2nd quarter valued at approximately $37,000. Whittier Trust Co. of Nevada Inc. raised its position in Coca-Cola Europacific Partners by 38.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after purchasing an additional 139 shares during the last quarter. Mather Group LLC. lifted its holdings in Coca-Cola Europacific Partners by 142.0% during the 2nd quarter. Mather Group LLC. now owns 668 shares of the company’s stock worth $47,000 after buying an additional 392 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Coca-Cola Europacific Partners in the 3rd quarter valued at about $50,000. Finally, Family Firm Inc. acquired a new stake in shares of Coca-Cola Europacific Partners in the second quarter valued at about $56,000. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Stock Performance

CCEP stock opened at $77.58 on Friday. Coca-Cola Europacific Partners PLC has a 1 year low of $59.31 and a 1 year high of $82.32. The company’s 50-day moving average is $77.52 and its 200-day moving average is $76.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63.

Coca-Cola Europacific Partners Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $1.34 dividend. This represents a yield of 2.6%. The ex-dividend date is Friday, November 15th. This is a boost from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79.

Analysts Set New Price Targets

A number of equities analysts recently commented on CCEP shares. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays upped their price objective on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. cut shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $82.00 in a research report on Wednesday. Finally, BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average target price of $81.78.

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.