MML Investors Services LLC Boosts Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

MML Investors Services LLC increased its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 6.4% in the third quarter, HoldingsChannel.com reports. The fund owned 6,390 shares of the company’s stock after acquiring an additional 384 shares during the period. MML Investors Services LLC’s holdings in Coca-Cola Europacific Partners were worth $503,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Lombard Odier Asset Management Europe Ltd boosted its stake in shares of Coca-Cola Europacific Partners by 103.4% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 92,770 shares of the company’s stock valued at $6,760,000 after purchasing an additional 47,165 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Coca-Cola Europacific Partners during the 3rd quarter worth approximately $2,513,000. Marshall Wace LLP bought a new position in shares of Coca-Cola Europacific Partners in the 2nd quarter worth approximately $1,846,000. Vontobel Holding Ltd. lifted its stake in shares of Coca-Cola Europacific Partners by 2,575.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 256,029 shares of the company’s stock valued at $20,244,000 after purchasing an additional 246,458 shares during the period. Finally, Scientech Research LLC boosted its position in shares of Coca-Cola Europacific Partners by 82.8% during the second quarter. Scientech Research LLC now owns 18,833 shares of the company’s stock valued at $1,372,000 after purchasing an additional 8,533 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CCEP shares. Barclays raised their price objective on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. 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. BNP Paribas lowered shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price for the company. in a report on Tuesday, September 10th. Finally, Sanford C. Bernstein started 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. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.44.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $75.17 on Monday. The company has a 50 day moving average of $77.31 and a 200 day moving average of $76.64. 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 twelve month low of $64.25 and a twelve month high of $82.32. The firm has a market cap of $34.34 billion, a P/E ratio of 16.78, a PEG ratio of 3.85 and a beta of 0.90.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a dividend of $1.34 per share. This is an increase 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’s dividend payout ratio is presently 35.27%.

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.