Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Stake Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,056 shares of the company’s stock after purchasing an additional 2,548 shares during the period. Park Avenue Securities LLC’s holdings in Coca-Cola Europacific Partners were worth $1,387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. increased its position in Coca-Cola Europacific Partners by 38.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after acquiring an additional 139 shares during the period. Janney Capital Management LLC lifted its holdings in Coca-Cola Europacific Partners by 4.4% in the third quarter. Janney Capital Management LLC now owns 3,417 shares of the company’s stock worth $269,000 after purchasing an additional 145 shares during the period. CWM LLC grew its position 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 buying an additional 167 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in Coca-Cola Europacific Partners by 3.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,605 shares of the company’s stock valued at $336,000 after buying an additional 168 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Coca-Cola Europacific Partners by 0.4% during the 3rd quarter. HighTower Advisors LLC now owns 41,187 shares of the company’s stock worth $3,242,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 1.5 %

Shares of NASDAQ:CCEP opened at $77.07 on Monday. The firm has a fifty day moving average of $76.83 and a two-hundred day moving average of $76.90. 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 PLC has a 12-month low of $65.74 and a 12-month high of $82.32. The firm has a market capitalization of $35.53 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90.

Coca-Cola Europacific Partners Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a $1.34 dividend. The ex-dividend date was Friday, November 15th. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. This represents a yield of 2.6%. Coca-Cola Europacific Partners’s dividend payout ratio (DPR) is presently 16.60%.

Wall Street Analysts Forecast Growth

CCEP has been the subject of several research reports. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Evercore ISI raised their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $82.00 in a report on Wednesday, November 27th. Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Barclays cut their price objective on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday. Four 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.11.

About Coca-Cola Europacific Partners

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.