Wells Fargo & Company MN Decreases Position in Coca-Cola Europacific Partners PLC (NYSE:CCEP)

Posted by Defense World Staff on Jun 10th, 2023

Wells Fargo & Company MN trimmed its position in shares of Coca-Cola Europacific Partners PLC (NYSE:CCEP – Get Rating) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 903,590 shares of the company’s stock after selling 88,285 shares during the period. Wells Fargo & Company MN owned 0.20% of Coca-Cola Europacific Partners worth $49,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Neo Ivy Capital Management bought a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter worth $40,000. Ronald Blue Trust Inc. increased its stake in shares of Coca-Cola Europacific Partners by 126.5% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,196 shares of the company’s stock worth $51,000 after purchasing an additional 668 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at approximately $51,000. Dupont Capital Management Corp purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at approximately $72,000. Finally, Phocas Financial Corp. bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth approximately $75,000. 28.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CCEP. StockNews.com downgraded Coca-Cola Europacific Partners from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 11th. UBS Group raised their target price on Coca-Cola Europacific Partners from $68.00 to $71.00 in a research note on Wednesday, April 26th. Argus lifted their target price on Coca-Cola Europacific Partners from $62.00 to $72.00 in a report on Friday, May 26th. Barclays increased their price target on shares of Coca-Cola Europacific Partners from $73.00 to $75.00 in a report on Thursday, April 27th. Finally, Societe Generale raised shares of Coca-Cola Europacific Partners from a “sell” rating to a “hold” rating and set a $61.15 price objective for the company in a research note on Wednesday, April 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.09.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $63.73 on Friday. Coca-Cola Europacific Partners PLC has a 12-month low of $41.80 and a 12-month high of $66.79. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. The stock has a 50-day moving average price of $63.01 and a 200-day moving average price of $57.95.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, May 25th. Shareholders of record on Friday, May 12th were given a dividend of $0.74 per share. The ex-dividend date was Thursday, May 11th. This represents a yield of 2.6%.

Coca-Cola Europacific Partners Company Profile

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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.