Fifth Third Bancorp Lowers Stock Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Fifth Third Bancorp lessened its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 56.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,821 shares of the company’s stock after selling 2,356 shares during the period. Fifth Third Bancorp’s holdings in Coca-Cola Europacific Partners were worth $140,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in Coca-Cola Europacific Partners by 38.1% in 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. Janney Capital Management LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 4.4% in the 3rd quarter. Janney Capital Management LLC now owns 3,417 shares of the company’s stock worth $269,000 after acquiring an additional 145 shares during the last quarter. CWM LLC boosted its stake in shares of 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. HighTower Advisors LLC grew its holdings 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 valued at $3,242,000 after purchasing an additional 177 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Coca-Cola Europacific Partners by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,496 shares of the company’s stock worth $3,740,000 after purchasing an additional 177 shares during the period. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $78.55 on Friday. Coca-Cola Europacific Partners PLC has a fifty-two week low of $65.77 and a fifty-two week high of $82.32. The stock’s 50 day simple moving average is $76.95 and its two-hundred day simple moving average is $77.17. 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 Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given a dividend of $1.34 per share. 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 dividend yield of 2.6%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCEP. UBS Group raised their price objective on 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. Sanford C. Bernstein began coverage on Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 price target on the stock. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. Evercore ISI raised their target price on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Barclays lowered their price target on shares of Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, seven have given 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 an average rating of “Moderate Buy” and an average target price 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.