Verdence Capital Advisors LLC Sells 2,271 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Verdence Capital Advisors LLC reduced its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 25.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,564 shares of the company’s stock after selling 2,271 shares during the period. Verdence Capital Advisors LLC’s holdings in Coca-Cola Europacific Partners were worth $517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCEP. Crewe Advisors LLC bought a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth $36,000. New Covenant Trust Company N.A. purchased a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth about $36,000. New Millennium Group LLC bought a new stake in Coca-Cola Europacific Partners in the second quarter worth about $37,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 38.1% in 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 period. Finally, Mather Group LLC. grew its stake in shares of 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 acquiring an additional 392 shares during the period. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $77.06 on Tuesday. The stock has a fifty day simple moving average of $78.60 and a two-hundred day simple moving average of $75.74. Coca-Cola Europacific Partners PLC has a 12-month low of $59.31 and a 12-month high of $82.32. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Coca-Cola Europacific Partners Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CCEP shares. BNP Paribas cut shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 9th. Evercore ISI boosted their price target on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays increased 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. Finally, Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.22.

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.