Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Sold by Wexford Capital LP

Wexford Capital LP cut its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 96.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,948 shares of the company’s stock after selling 95,717 shares during the quarter. Wexford Capital LP’s holdings in Coca-Cola Europacific Partners were worth $311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Lombard Odier Asset Management Europe Ltd increased its position in Coca-Cola Europacific Partners by 103.4% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 92,770 shares of the company’s stock worth $6,760,000 after buying an additional 47,165 shares during the period. Cetera Advisors LLC boosted its stake in shares of Coca-Cola Europacific Partners by 234.1% during the first quarter. Cetera Advisors LLC now owns 10,325 shares of the company’s stock valued at $722,000 after acquiring an additional 7,235 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Coca-Cola Europacific Partners during the third quarter valued at approximately $2,513,000. Manning & Napier Advisors LLC purchased a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter worth about $3,068,000. Finally, Marshall Wace LLP purchased a new stake in Coca-Cola Europacific Partners during the second quarter valued at about $1,846,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCEP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Barclays boosted their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein initiated coverage on Coca-Cola Europacific Partners in a research report on Tuesday. They issued a “market perform” rating and a $82.00 target price for the company. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.11.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP opened at $77.68 on Friday. Coca-Cola Europacific Partners PLC has a 1-year low of $62.93 and a 1-year high of $82.32. The business has a 50-day moving average price of $77.37 and a two-hundred day moving average price of $76.28. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63.

Coca-Cola Europacific Partners Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a dividend of $1.34 per share. This represents a dividend yield of 2.6%. This is a positive change 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 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.