Principal Financial Group Inc. Reduces Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Principal Financial Group Inc. lowered its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 16.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,535 shares of the company’s stock after selling 3,262 shares during the quarter. Principal Financial Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Coca-Cola Europacific Partners by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,757,976 shares of the company’s stock valued at $217,191,000 after purchasing an additional 32,776 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Coca-Cola Europacific Partners by 307.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company’s stock valued at $191,984,000 after buying an additional 1,839,321 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Coca-Cola Europacific Partners by 2.9% during the third quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock worth $160,138,000 after acquiring an additional 58,247 shares during the last quarter. Samlyn Capital LLC increased its holdings in shares of Coca-Cola Europacific Partners by 23.2% in the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock valued at $135,155,000 after acquiring an additional 349,466 shares during the period. Finally, Millennium Management LLC raised its position in Coca-Cola Europacific Partners by 7.6% in the 2nd quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock valued at $119,217,000 after purchasing an additional 115,604 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $76.15 on Friday. The firm has a market capitalization of $35.10 billion, a PE ratio of 17.00, a P/E/G ratio of 3.85 and a beta of 0.90. Coca-Cola Europacific Partners PLC has a 52 week low of $64.25 and a 52 week high of $82.32. The firm’s 50-day simple moving average is $77.08 and its 200 day simple moving average is $76.77. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a $1.34 dividend. The ex-dividend date was Friday, November 15th. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. This represents a dividend yield of 2.6%. Coca-Cola Europacific Partners’s dividend payout ratio is currently 35.27%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Sanford C. Bernstein initiated coverage on shares of Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 price objective on the stock. BNP Paribas downgraded 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 note on Tuesday, September 10th. Barclays lifted their target price on 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 increased their price target on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Four equities research 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.44.

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.