BNP Paribas Financial Markets Decreases Stock Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

BNP Paribas Financial Markets trimmed its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 25.2% during the third quarter, HoldingsChannel reports. The firm owned 426,906 shares of the company’s stock after selling 143,857 shares during the period. BNP Paribas Financial Markets’ holdings in Coca-Cola Europacific Partners were worth $33,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCEP. Price T Rowe Associates Inc. MD increased its holdings in shares of Coca-Cola Europacific Partners by 13.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,442 shares of the company’s stock worth $2,829,000 after buying an additional 4,741 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth approximately $8,663,000. California State Teachers Retirement System increased its holdings in shares of Coca-Cola Europacific Partners by 13.5% during the 1st quarter. California State Teachers Retirement System now owns 221,119 shares of the company’s stock worth $15,467,000 after buying an additional 26,217 shares during the last quarter. Swedbank AB acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth approximately $12,547,000. Finally, Cetera Investment Advisers increased its holdings in shares of Coca-Cola Europacific Partners by 96.4% during the 1st quarter. Cetera Investment Advisers now owns 25,343 shares of the company’s stock worth $1,773,000 after buying an additional 12,438 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CCEP shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Evercore ISI lifted their target price on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $82.00 in a report on Wednesday. Finally, BNP Paribas downgraded shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price for the company. in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.78.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP opened at $77.58 on Friday. The company has a fifty day simple moving average of $77.52 and a two-hundred day simple moving average of $76.20. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners PLC has a 52 week low of $59.31 and a 52 week high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $1.34 dividend. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date is Friday, November 15th. This represents a dividend yield of 2.6%.

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.