Nuveen Asset Management LLC Cuts Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Nuveen Asset Management LLC cut its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 13.5% during the fourth quarter, Holdings Channel reports. The firm owned 2,059,648 shares of the company’s stock after selling 322,075 shares during the quarter. Nuveen Asset Management LLC’s holdings in Coca-Cola Europacific Partners were worth $158,202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $27,000. Optiver Holding B.V. bought a new stake in Coca-Cola Europacific Partners in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in Coca-Cola Europacific Partners by 85.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock worth $33,000 after purchasing an additional 197 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Coca-Cola Europacific Partners during the 4th quarter valued at about $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Coca-Cola Europacific Partners during the fourth quarter valued at about $52,000. 31.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. UBS Group upped their price objective on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Evercore ISI increased their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Barclays boosted their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $88.50.

Coca-Cola Europacific Partners Trading Up 1.4%

Shares of CCEP opened at $87.81 on Friday. The company’s fifty day simple moving average is $86.84 and its 200-day simple moving average is $81.57. The company has a market cap of $40.48 billion, a P/E ratio of 18.07, a P/E/G ratio of 4.89 and a beta of 0.77. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners PLC has a twelve month low of $70.82 and a twelve month high of $91.37.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 16th will be given a $0.8993 dividend. This represents a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 16th. Coca-Cola Europacific Partners’s dividend payout ratio (DPR) is currently 16.26%.

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.