Robeco Institutional Asset Management B.V. Reduces Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Robeco Institutional Asset Management B.V. lowered its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 68.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,668 shares of the company’s stock after selling 142,332 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Coca-Cola Europacific Partners were worth $4,967,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CCEP. Massachusetts Financial Services Co. MA increased 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 acquiring an additional 32,776 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 purchasing an additional 1,839,321 shares during the period. Geode Capital Management LLC raised its holdings in shares of Coca-Cola Europacific Partners by 2.9% in the third quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock valued at $160,138,000 after buying an additional 58,247 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Coca-Cola Europacific Partners during the third quarter worth about $52,364,000. Finally, Citigroup Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 9.8% during the third quarter. Citigroup Inc. now owns 630,779 shares of the company’s stock worth $49,674,000 after buying an additional 56,551 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $78.55 on Monday. The company has a 50-day moving average of $76.95 and a two-hundred day moving average of $77.20. Coca-Cola Europacific Partners PLC has a 12-month low of $65.77 and a 12-month high of $82.32. 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 company also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a dividend of $1.34 per share. The ex-dividend date was Friday, November 15th. This is a boost from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. This represents a yield of 2.6%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CCEP. Evercore ISI upped their price objective on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $82.00 in a report on Wednesday, November 27th. Sanford C. Bernstein began 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. Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Barclays dropped their price target on shares of Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.11.

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.