Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 25.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 426,906 shares of the company’s stock after selling 143,857 shares during the period. BNP Paribas Financial Markets’ holdings in Coca-Cola Europacific Partners were worth $33,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. grew its position in shares of Coca-Cola Europacific Partners by 144.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock valued at $87,788,000 after acquiring an additional 711,121 shares during the period. Point72 Europe London LLP acquired a new stake in shares of Coca-Cola Europacific Partners during the 2nd quarter valued at about $26,341,000. Samlyn Capital LLC grew its position in shares of Coca-Cola Europacific Partners by 23.2% during the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock valued at $135,155,000 after acquiring an additional 349,466 shares during the period. Vontobel Holding Ltd. grew its position in shares of Coca-Cola Europacific Partners by 2,575.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 256,029 shares of the company’s stock valued at $20,244,000 after acquiring an additional 246,458 shares during the period. Finally, Andra AP fonden acquired a new stake in shares of Coca-Cola Europacific Partners during the 2nd quarter valued at about $15,889,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Down 0.1 %

CCEP opened at $77.58 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. The company’s 50 day simple moving average is $77.52 and its two-hundred day simple moving average is $76.20. 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 firm also recently announced a semi-annual dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $1.34 dividend. This represents a yield of 2.6%. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date is Friday, November 15th.

Analyst Upgrades and Downgrades

CCEP has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut 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 research report on Wednesday. Barclays raised their target price 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 raised their target price on 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. BNP Paribas lowered shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Tuesday, September 10th. Finally, Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus price target of $81.78.

Coca-Cola Europacific Partners Company 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.