Allspring Global Investments Holdings LLC Decreases Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Allspring Global Investments Holdings LLC cut its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 623,778 shares of the company’s stock after selling 106,606 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Coca-Cola Europacific Partners were worth $43,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC raised its stake in Coca-Cola Europacific Partners by 26.4% in the third quarter. LPL Financial LLC now owns 77,086 shares of the company’s stock valued at $4,816,000 after buying an additional 16,100 shares in the last quarter. Glenmede Trust Co. NA raised its position in shares of Coca-Cola Europacific Partners by 31.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,682 shares of the company’s stock worth $293,000 after acquiring an additional 1,107 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Coca-Cola Europacific Partners by 4.2% during the third quarter. Ameriprise Financial Inc. now owns 1,383,485 shares of the company’s stock worth $86,060,000 after purchasing an additional 55,808 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Coca-Cola Europacific Partners by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 2,221,296 shares of the company’s stock valued at $138,787,000 after purchasing an additional 168,420 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Coca-Cola Europacific Partners by 14.9% in the third quarter. Royal London Asset Management Ltd. now owns 166,860 shares of the company’s stock valued at $10,426,000 after purchasing an additional 21,700 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP opened at $73.59 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27. The firm’s fifty day moving average price is $73.39 and its 200 day moving average price is $70.05. Coca-Cola Europacific Partners PLC has a 1-year low of $56.28 and a 1-year high of $76.44.

Coca-Cola Europacific Partners Cuts Dividend

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

Wall Street Analysts Forecast Growth

CCEP has been the subject of several research analyst reports. 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 research note on Tuesday, March 19th. Barclays upped their target price on Coca-Cola Europacific Partners from $78.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, StockNews.com downgraded Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a report on Sunday, May 19th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.44.

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.