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

Principal Financial Group Inc. lessened its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 16.5% in the third quarter, according to the company in its most recent 13F filing 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.

Several other institutional investors have also recently added to or reduced their stakes in CCEP. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 38.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after buying an additional 139 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Coca-Cola Europacific Partners in the 3rd quarter worth approximately $50,000. Brown Brothers Harriman & Co. raised its holdings in Coca-Cola Europacific Partners by 1,604.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company’s stock valued at $67,000 after acquiring an additional 802 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Coca-Cola Europacific Partners by 21.5% during the 3rd quarter. Blue Trust Inc. now owns 1,023 shares of the company’s stock worth $75,000 after purchasing an additional 181 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Coca-Cola Europacific Partners during the second quarter worth $81,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CCEP shares. BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price for the company. in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lowered shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $82.00 in a report on Wednesday, November 27th. Barclays raised their target price on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, UBS Group lifted their price target on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $84.44.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $76.15 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. Coca-Cola Europacific Partners PLC has a 1-year low of $64.25 and a 1-year high of $82.32. The company has a market capitalization of $35.10 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 3.85 and a beta of 0.90. The business has a 50-day moving average of $77.08 and a 200-day moving average of $76.77.

Coca-Cola Europacific Partners Increases Dividend

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

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.