HighTower Advisors LLC Trims Position in Coca-Cola Europacific Partners PLC (NYSE:CCEP)

HighTower Advisors LLC trimmed its position in Coca-Cola Europacific Partners PLC (NYSE:CCEP – Get Rating) by 7.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 59,271 shares of the company’s stock after selling 4,819 shares during the period. HighTower Advisors LLC’s holdings in Coca-Cola Europacific Partners were worth $3,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in Coca-Cola Europacific Partners by 0.6% in the fourth quarter. Raymond James & Associates now owns 188,187 shares of the company’s stock worth $10,410,000 after purchasing an additional 1,176 shares during the period. Belpointe Asset Management LLC purchased a new stake in Coca-Cola Europacific Partners in the fourth quarter worth $51,000. UBS Group AG grew its stake in Coca-Cola Europacific Partners by 60.3% in the fourth quarter. UBS Group AG now owns 304,949 shares of the company’s stock worth $16,870,000 after purchasing an additional 114,769 shares during the period. LSV Asset Management grew its stake in Coca-Cola Europacific Partners by 101.2% in the fourth quarter. LSV Asset Management now owns 99,400 shares of the company’s stock worth $5,499,000 after purchasing an additional 50,000 shares during the period. Finally, Tradewinds LLC. purchased a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth $607,000. 28.63% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Up 0.0 %

NYSE CCEP opened at $65.76 on Monday. The stock’s 50-day moving average price is $61.08 and its 200-day moving average price is $56.69. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 1.42. Coca-Cola Europacific Partners PLC has a 52 week low of $41.80 and a 52 week high of $66.79.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 25th. Stockholders of record on Friday, May 12th will be paid a $0.74 dividend. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, May 11th.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CCEP shares. Argus increased their target price on Coca-Cola Europacific Partners from $60.00 to $62.00 in a research note on Thursday, March 16th. Barclays increased their target price on Coca-Cola Europacific Partners from $73.00 to $75.00 in a research note on Thursday, April 27th. Credit Suisse Group increased their target price on Coca-Cola Europacific Partners to €65.00 ($70.65) in a research note on Wednesday, April 26th. StockNews.com downgraded Coca-Cola Europacific Partners from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 11th. Finally, UBS Group increased their target price on Coca-Cola Europacific Partners from $68.00 to $71.00 in a report on Wednesday, April 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.66.

Coca-Cola Europacific Partners Company Profile

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Coca-Cola Europacific Partners plc engages in the distribution and sale of non-alcoholic ready to drink beverages. It operates through the following geographical segments: Iberia, Germany, Great Britain, France, Belgium/Luxembourg, Netherlands, Norway, Sweden, and Iceland. The company was founded on August 4, 2015 and is headquartered in Uxbridge, the United Kingdom.