Mercer Global Advisors Inc. ADV Lowers Stock Holdings in Coca-Cola Europacific Partners PLC (NYSE:CCEP)

Mercer Global Advisors Inc. ADV lowered its holdings in Coca-Cola Europacific Partners PLC (NYSE:CCEP – Get Rating) by 3.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,103 shares of the company’s stock after selling 323 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Coca-Cola Europacific Partners were worth $448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new position in Coca-Cola Europacific Partners in the second quarter valued at $40,000. Belpointe Asset Management LLC acquired a new position in Coca-Cola Europacific Partners in the fourth quarter valued at $51,000. Ronald Blue Trust Inc. boosted its holdings in 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 valued at $51,000 after acquiring an additional 668 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Coca-Cola Europacific Partners in the fourth quarter valued at $72,000. Finally, Phocas Financial Corp. acquired a new position in Coca-Cola Europacific Partners in the fourth quarter valued at $75,000. Institutional investors and hedge funds own 28.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CCEP shares. Societe Generale upgraded Coca-Cola Europacific Partners from a “sell” rating to a “hold” rating and set a $61.15 target price on the stock in a report on Wednesday, April 26th. Argus boosted their price objective on Coca-Cola Europacific Partners from $60.00 to $62.00 in a research note on Thursday, March 16th. UBS Group boosted their price objective on Coca-Cola Europacific Partners from $68.00 to $71.00 in a research note on Wednesday, April 26th. Barclays boosted their price objective on Coca-Cola Europacific Partners from $73.00 to $75.00 in a research note on Thursday, April 27th. Finally, StockNews.com cut Coca-Cola Europacific Partners from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus target price of $66.66.

Coca-Cola Europacific Partners Stock Down 1.6 %

Shares of NYSE CCEP opened at $64.73 on Tuesday. Coca-Cola Europacific Partners PLC has a 1 year low of $41.80 and a 1 year high of $66.79. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 1.42. The stock’s 50-day simple moving average is $61.27 and its 200-day simple moving average is $56.81.

Coca-Cola Europacific Partners Cuts Dividend

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

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.