Coca-Cola Europacific Partners $CCEP Shares Sold by DNB Asset Management AS

DNB Asset Management AS lessened its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,348,765 shares of the company’s stock after selling 24,804 shares during the quarter. DNB Asset Management AS owned 0.29% of Coca-Cola Europacific Partners worth $125,057,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CCEP. Assetmark Inc. grew its position in Coca-Cola Europacific Partners by 107.3% during the first quarter. Assetmark Inc. now owns 284 shares of the company’s stock worth $25,000 after buying an additional 147 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 61.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock worth $34,000 after acquiring an additional 138 shares in the last quarter. Motco boosted its stake in shares of Coca-Cola Europacific Partners by 285.7% during the 1st quarter. Motco now owns 405 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Quarry LP grew its holdings in shares of Coca-Cola Europacific Partners by 115.8% in the 1st quarter. Quarry LP now owns 436 shares of the company’s stock worth $38,000 after acquiring an additional 234 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the 2nd quarter worth approximately $67,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Down 0.3%

Shares of NASDAQ:CCEP opened at $89.19 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $41.11 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.54 and a beta of 0.74. Coca-Cola Europacific Partners has a 52-week low of $73.40 and a 52-week high of $100.67. The stock’s fifty day simple moving average is $89.63 and its 200-day simple moving average is $91.42.

Coca-Cola Europacific Partners Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Friday, November 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, November 14th. This represents a dividend yield of 277.0%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CCEP. Morgan Stanley cut Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Finally, Barclays dropped their target price on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Hold” and a consensus target price of $92.40.

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.