Public Sector Pension Investment Board Lowers Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Public Sector Pension Investment Board reduced its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 87.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,083 shares of the company’s stock after selling 779,930 shares during the quarter. Public Sector Pension Investment Board’s holdings in Coca-Cola Europacific Partners were worth $8,433,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its position in shares of Coca-Cola Europacific Partners by 38.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after purchasing an additional 139 shares during the last quarter. Janney Capital Management LLC raised its position in shares of Coca-Cola Europacific Partners by 4.4% during the 3rd 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 last quarter. Signaturefd LLC raised its position in shares of Coca-Cola Europacific Partners by 2.6% during the 2nd quarter. Signaturefd LLC now owns 5,735 shares of the company’s stock worth $418,000 after purchasing an additional 147 shares during the last quarter. CWM LLC raised its position in shares of Coca-Cola Europacific Partners by 14.5% during the 3rd quarter. CWM LLC now owns 1,318 shares of the company’s stock worth $104,000 after purchasing an additional 167 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its position in shares of 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 worth $336,000 after purchasing an additional 168 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $77.58 on Friday. The company has a 50 day simple moving average of $77.52 and a 200-day simple moving average of $76.20. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners PLC has a 1 year low of $59.31 and a 1 year high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on CCEP. BNP Paribas downgraded shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target for the company. in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 9th. Evercore ISI increased 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 report on Wednesday, November 6th. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $82.00 in a report on Wednesday. Finally, Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.78.

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.