Retirement Systems of Alabama Purchases New Position in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Retirement Systems of Alabama bought a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 68,804 shares of the company’s stock, valued at approximately $5,988,000.

Several other hedge funds also recently made changes to their positions in CCEP. Invesco Ltd. grew its stake in Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after buying an additional 2,105,019 shares during the last quarter. FMR LLC increased its position in Coca-Cola Europacific Partners by 3.3% during the 4th quarter. FMR LLC now owns 7,234,642 shares of the company’s stock worth $555,693,000 after purchasing an additional 229,679 shares in the last quarter. Amundi increased its position in Coca-Cola Europacific Partners by 2.9% in the 4th quarter. Amundi now owns 3,078,851 shares of the company’s stock valued at $233,716,000 after acquiring an additional 87,675 shares during the period. JPMorgan Chase & Co. increased its position in Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after acquiring an additional 872,060 shares during the period. Finally, Norges Bank acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at approximately $190,999,000. 31.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CCEP. Barclays raised their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. UBS Group boosted their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.50.

Coca-Cola Europacific Partners Trading Down 0.3%

CCEP stock opened at $92.67 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.62. The company has a market capitalization of $42.72 billion, a PE ratio of 19.07, a P/E/G ratio of 5.01 and a beta of 0.78. The firm’s 50-day moving average is $90.24 and its 200 day moving average is $84.33. Coca-Cola Europacific Partners has a 12 month low of $71.49 and a 12 month high of $94.74.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were issued a dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 16th.

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.