Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Holdings Lowered by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 85.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,457 shares of the company’s stock after selling 1,035,264 shares during the period. Point72 Asset Management L.P.’s holdings in Coca-Cola Europacific Partners were worth $13,345,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CCEP. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 38.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after purchasing an additional 139 shares during the last quarter. New Millennium Group LLC purchased a new stake in Coca-Cola Europacific Partners during the second quarter valued at about $37,000. Plato Investment Management Ltd acquired a new position in shares of Coca-Cola Europacific Partners in the third quarter worth about $50,000. Mather Group LLC. increased its position in shares of Coca-Cola Europacific Partners by 142.0% in the second quarter. Mather Group LLC. now owns 668 shares of the company’s stock worth $47,000 after acquiring an additional 392 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Coca-Cola Europacific Partners during the second quarter valued at approximately $56,000. 31.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Barclays upped their price target 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. Sanford C. Bernstein started coverage on Coca-Cola Europacific Partners in a research report on Tuesday. They set a “market perform” rating and a $82.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Evercore ISI raised their price target on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.11.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $77.68 on Friday. The company’s fifty day moving average is $77.37 and its 200-day moving average is $76.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners PLC has a 12 month low of $62.93 and a 12 month high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a dividend of $1.34 per share. This represents a yield of 2.6%. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend was Friday, November 15th.

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.