Parallax Volatility Advisers L.P. Makes New Investment in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Parallax Volatility Advisers L.P. bought a new position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,590 shares of the company’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its position in shares of Coca-Cola Europacific Partners by 96.4% in the first quarter. Cetera Investment Advisers now owns 25,343 shares of the company’s stock valued at $1,773,000 after buying an additional 12,438 shares during the last quarter. Cetera Advisors LLC raised its stake in 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 buying an additional 7,235 shares in the last quarter. Mather Group LLC. grew its position in shares of Coca-Cola Europacific Partners by 142.0% in the 2nd 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. Park Avenue Securities LLC boosted its position in Coca-Cola Europacific Partners by 7.4% during the 2nd quarter. Park Avenue Securities LLC now owns 15,433 shares of the company’s stock valued at $1,125,000 after purchasing an additional 1,067 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in Coca-Cola Europacific Partners during the 2nd quarter valued at approximately $3,068,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CCEP shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $82.00 in a report on Wednesday, November 27th. Barclays lifted their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein began coverage on Coca-Cola Europacific Partners in a report on Tuesday. They set a “market perform” rating and a $82.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.11.

Coca-Cola Europacific Partners Trading Down 0.9 %

CCEP opened at $77.68 on Friday. The stock has a 50-day moving average of $77.37 and a 200-day moving average of $76.28. Coca-Cola Europacific Partners PLC has a 52-week low of $62.93 and a 52-week high of $82.32. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Coca-Cola Europacific Partners Increases Dividend

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

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.