Principal Financial Group Inc. Sells 3,262 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Principal Financial Group Inc. reduced its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 16.5% during the third quarter, Holdings Channel reports. The institutional investor owned 16,535 shares of the company’s stock after selling 3,262 shares during the period. 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 & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CCEP. Samlyn Capital LLC boosted its position in shares of Coca-Cola Europacific Partners by 23.2% in the second quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock worth $135,155,000 after purchasing an additional 349,466 shares during the period. Millennium Management LLC boosted its stake in shares of Coca-Cola Europacific Partners by 7.6% in the second quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock worth $119,217,000 after acquiring an additional 115,604 shares during the period. Point72 Asset Management L.P. grew its position in shares of Coca-Cola Europacific Partners by 144.1% during the second quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock worth $87,788,000 after purchasing an additional 711,121 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Coca-Cola Europacific Partners by 3.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 887,013 shares of the company’s stock valued at $64,637,000 after purchasing an additional 29,181 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Coca-Cola Europacific Partners by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 556,862 shares of the company’s stock worth $40,567,000 after purchasing an additional 209,300 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CCEP shares. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. BNP Paribas downgraded shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Evercore ISI boosted their target price on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Barclays raised their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.22.

Coca-Cola Europacific Partners Stock Up 0.1 %

NASDAQ:CCEP opened at $78.21 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. The business has a 50 day simple moving average of $77.87 and a 200-day simple moving average of $76.08. Coca-Cola Europacific Partners PLC has a 1 year low of $59.31 and a 1 year high of $82.32.

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 dividend of $1.34 per share. This represents a yield of 2.6%. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date is Friday, November 15th.

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.