US Asset Management LLC Makes New Investment in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

US Asset Management LLC purchased a new stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,057 shares of the company’s stock, valued at approximately $271,000.

A number of other large investors also recently bought and sold shares of CCEP. Global Retirement Partners LLC raised its stake in shares of Coca-Cola Europacific Partners by 24.1% during the 4th quarter. Global Retirement Partners LLC now owns 799 shares of the company’s stock worth $54,000 after buying an additional 155 shares during the period. New York Life Investment Management LLC raised its stake in shares of Coca-Cola Europacific Partners by 4.0% during the 4th quarter. New York Life Investment Management LLC now owns 4,096 shares of the company’s stock worth $273,000 after buying an additional 158 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Coca-Cola Europacific Partners by 2.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,945 shares of the company’s stock worth $597,000 after buying an additional 230 shares during the period. Huntington National Bank raised its stake in shares of Coca-Cola Europacific Partners by 7.6% during the 3rd quarter. Huntington National Bank now owns 3,319 shares of the company’s stock worth $207,000 after buying an additional 235 shares during the period. Finally, Janney Capital Management LLC raised its stake in shares of Coca-Cola Europacific Partners by 3.7% during the 3rd quarter. Janney Capital Management LLC now owns 6,967 shares of the company’s stock worth $435,000 after buying an additional 248 shares during the period. 31.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BNP Paribas raised Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 target price for the company in a research note on Friday, January 12th. UBS Group increased their price objective on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, February 26th. StockNews.com raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Argus increased their price objective on 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. Finally, Barclays upped their target price on Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $75.78.

Coca-Cola Europacific Partners Trading Up 0.2 %

Shares of NASDAQ:CCEP traded up $0.12 during midday trading on Thursday, reaching $73.64. 1,021,922 shares of the company’s stock were exchanged, compared to its average volume of 1,502,897. The firm’s 50 day simple moving average is $70.08 and its two-hundred day simple moving average is $66.49. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 1.27. Coca-Cola Europacific Partners PLC has a fifty-two week low of $56.28 and a fifty-two week high of $73.67.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.85. On average, research analysts anticipate that Coca-Cola Europacific Partners PLC will post 4.15 earnings per share for the current year.

Coca-Cola Europacific Partners Cuts Dividend

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

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.