CIBC Asset Management Inc reduced its holdings in Coca-Cola Europacific Partners PLC (NYSE:CCEP – Get Rating) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,700 shares of the company’s stock after selling 2,052 shares during the period. CIBC Asset Management Inc’s holdings in Coca-Cola Europacific Partners were worth $1,145,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Macquarie Group Ltd. boosted its stake in shares of Coca-Cola Europacific Partners by 598.0% in the third quarter. Macquarie Group Ltd. now owns 73,979 shares of the company’s stock worth $3,153,000 after acquiring an additional 63,381 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 8.8% in the third quarter. BlackRock Inc. now owns 14,226,512 shares of the company’s stock worth $606,333,000 after acquiring an additional 1,152,207 shares during the last quarter. Rollins Financial acquired a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth approximately $219,000. Handelsbanken Fonder AB boosted its stake in shares of Coca-Cola Europacific Partners by 1.5% in the fourth quarter. Handelsbanken Fonder AB now owns 66,413 shares of the company’s stock worth $3,673,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth approximately $22,397,000. 28.63% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on CCEP shares. Credit Suisse Group lifted their price objective on Coca-Cola Europacific Partners to €65.00 ($69.89) in a research report on Wednesday, April 26th. UBS Group lifted their target price on Coca-Cola Europacific Partners from $68.00 to $71.00 in a research report on Wednesday, April 26th. Argus lifted their target price on Coca-Cola Europacific Partners from $62.00 to $72.00 in a research report on Friday, May 26th. Barclays lifted their target price on Coca-Cola Europacific Partners from $73.00 to $75.00 in a research report on Thursday, April 27th. Finally, StockNews.com downgraded Coca-Cola Europacific Partners from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.09.
Coca-Cola Europacific Partners Trading Up 0.6 %
Coca-Cola Europacific Partners Cuts Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Thursday, May 25th. Investors of record on Friday, May 12th were issued a $0.74 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a dividend yield of 2.6%.
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.
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