Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,006 shares of the company’s stock after selling 320 shares during the quarter. Ritholtz Wealth Management’s holdings in Coca-Cola Europacific Partners were worth $1,229,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCEP. Whittier Trust Co. of Nevada Inc. lifted its position in 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 valued at $40,000 after buying an additional 139 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of Coca-Cola Europacific Partners during the 3rd quarter valued at $50,000. Brown Brothers Harriman & Co. boosted its position in Coca-Cola Europacific Partners by 1,604.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company’s stock worth $67,000 after purchasing an additional 802 shares during the period. Blue Trust Inc. increased its holdings in Coca-Cola Europacific Partners by 21.5% in the 3rd quarter. Blue Trust Inc. now owns 1,023 shares of the company’s stock valued at $75,000 after purchasing an additional 181 shares in the last quarter. Finally, CWM LLC increased its holdings in Coca-Cola Europacific Partners by 14.5% in the 3rd quarter. CWM LLC now owns 1,318 shares of the company’s stock valued at $104,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $82.00 in a report on Wednesday, November 27th. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. UBS Group upped their target price on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. 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. Finally, Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.11.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock opened at $77.07 on Friday. The business has a 50 day simple moving average of $76.83 and a 200 day simple moving average of $76.87. 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 12-month low of $65.74 and a 12-month high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a dividend of $1.34 per share. This is a boost from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. This represents a dividend yield of 2.6%. The ex-dividend date was 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.