Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Position Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 22.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 367,203 shares of the company’s stock after selling 106,531 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Coca-Cola Europacific Partners worth $24,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in CCEP. GAMMA Investing LLC purchased a new position in shares of Coca-Cola Europacific Partners during the 4th quarter valued at $28,000. Global Retirement Partners LLC boosted its position in Coca-Cola Europacific Partners by 24.1% during the fourth quarter. Global Retirement Partners LLC now owns 799 shares of the company’s stock valued at $54,000 after purchasing an additional 155 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Coca-Cola Europacific Partners during the fourth quarter valued at $61,000. NBC Securities Inc. purchased a new position in Coca-Cola Europacific Partners in the third quarter valued at about $73,000. Finally, ZRC Wealth Management LLC acquired a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $85,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $71.59 on Thursday. Coca-Cola Europacific Partners PLC has a 1-year low of $56.28 and a 1-year high of $72.67. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.72 and a current ratio of 0.91. The firm has a 50-day moving average price of $69.84 and a two-hundred day moving average price of $65.99.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.85. As a group, analysts expect that Coca-Cola Europacific Partners PLC will post 4.18 earnings per share for the current year.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Friday, May 10th will be paid a dividend of $0.79 per share. This represents a dividend yield of 5.6%. The ex-dividend date is Thursday, May 9th.

Analyst Ratings Changes

A number of analysts have issued reports on CCEP shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. StockNews.com upgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Barclays raised their target price on Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday. BNP Paribas raised Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 price objective on the stock in a report on Friday, January 12th. Finally, Argus boosted their target price on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Buy” and a consensus price target of $75.78.

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.