Patton Albertson Miller Group LLC Decreases Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Patton Albertson Miller Group LLC lowered its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 14.3% during the fourth quarter, Holdings Channel reports. The fund owned 4,475 shares of the company’s stock after selling 745 shares during the period. Patton Albertson Miller Group LLC’s holdings in Coca-Cola Europacific Partners were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CCEP. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Coca-Cola Europacific Partners during the 4th quarter worth about $25,165,000. Allspring Global Investments Holdings LLC grew its holdings in Coca-Cola Europacific Partners by 152.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 545,273 shares of the company’s stock worth $34,069,000 after acquiring an additional 329,395 shares in the last quarter. Northern Trust Corp increased its position in shares of Coca-Cola Europacific Partners by 24.6% in the 3rd quarter. Northern Trust Corp now owns 1,413,900 shares of the company’s stock valued at $88,340,000 after purchasing an additional 279,218 shares during the last quarter. Verde Servicos Internacionais S.A. acquired a new stake in shares of Coca-Cola Europacific Partners in the 3rd quarter valued at $16,421,000. Finally, Invesco Ltd. lifted its position in shares of Coca-Cola Europacific Partners by 28.9% during the 3rd quarter. Invesco Ltd. now owns 1,045,397 shares of the company’s stock worth $65,316,000 after purchasing an additional 234,537 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCEP has been the topic of a number of analyst reports. StockNews.com upgraded Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Argus boosted their target price on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Barclays boosted their price objective on shares of Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Finally, UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $75.78.

Coca-Cola Europacific Partners Trading Up 0.2 %

Shares of CCEP stock traded up $0.12 during trading hours on Thursday, hitting $73.64. The stock had a trading volume of 1,021,922 shares, compared to its average volume of 1,502,897. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72. The stock’s 50 day moving average is $70.08 and its 200 day moving average is $66.49. Coca-Cola Europacific Partners PLC has a twelve month low of $56.28 and a twelve month high of $73.67.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.85 EPS for the quarter, meeting the consensus estimate of $1.85. As a group, equities 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 announced a semi-annual dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Friday, May 10th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a dividend yield of 5.6%.

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.