First Trust Advisors LP Trims Holdings in Coca-Cola Europacific Partners $CCEP

First Trust Advisors LP trimmed its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 2.3% in the 1st quarter, Holdings Channel reports. The firm owned 630,553 shares of the company’s stock after selling 14,852 shares during the quarter. First Trust Advisors LP’s holdings in Coca-Cola Europacific Partners were worth $57,172,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Bayban bought a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Coca-Cola Europacific Partners by 407.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after buying an additional 285 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in Coca-Cola Europacific Partners by 1,537.5% during the 1st quarter. Whipplewood Advisors LLC now owns 393 shares of the company’s stock valued at $36,000 after buying an additional 369 shares in the last quarter. Quarry LP boosted its position in Coca-Cola Europacific Partners by 59.1% in the 4th quarter. Quarry LP now owns 393 shares of the company’s stock valued at $36,000 after buying an additional 146 shares during the period. Finally, 1248 Management LLC bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $38,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $105.11 on Monday. Coca-Cola Europacific Partners has a one year low of $84.65 and a one year high of $110.90. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. The company’s 50-day simple moving average is $99.31 and its two-hundred day simple moving average is $97.05.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were paid a dividend of $0.82 per share. The ex-dividend date was Friday, May 15th. This represents a dividend yield of 213.0%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCEP. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Barclays increased their price objective on Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Finally, Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.88.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.