Franklin Resources Inc. Trims Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Franklin Resources Inc. lessened its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 2.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 658,554 shares of the company’s stock after selling 14,122 shares during the quarter. Franklin Resources Inc. owned about 0.14% of Coca-Cola Europacific Partners worth $51,604,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CCEP. New Millennium Group LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the second quarter valued at approximately $37,000. Whittier Trust Co. of Nevada Inc. raised its position in Coca-Cola Europacific Partners by 38.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after purchasing an additional 139 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Coca-Cola Europacific Partners during the 3rd quarter worth $50,000. Family Firm Inc. purchased a new position in Coca-Cola Europacific Partners during the 2nd quarter worth $56,000. Finally, Brown Brothers Harriman & Co. increased its stake in Coca-Cola Europacific Partners by 1,604.0% in the third quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company’s stock valued at $67,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Up 0.2 %

NASDAQ:CCEP opened at $77.55 on Wednesday. The firm’s fifty day simple moving average is $77.48 and its 200-day simple moving average is $76.63. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. Coca-Cola Europacific Partners PLC has a fifty-two week low of $64.02 and a fifty-two week high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a dividend of $1.34 per share. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. This represents a yield of 2.6%. The ex-dividend date of this dividend was Friday, November 15th.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price on the stock. in a report on Tuesday, September 10th. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Four investment 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 company’s stock. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and an average target price of $84.44.

Coca-Cola Europacific Partners Company Profile

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.