Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Acquired by FCG Investment Co

FCG Investment Co increased its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 57.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,309 shares of the company’s stock after purchasing an additional 6,345 shares during the quarter. FCG Investment Co’s holdings in Coca-Cola Europacific Partners were worth $1,211,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $68,360,000. Point72 Asset Management L.P. grew its holdings in shares of Coca-Cola Europacific Partners by 89.3% during the fourth quarter. Point72 Asset Management L.P. now owns 2,156,056 shares of the company’s stock valued at $143,895,000 after purchasing an additional 1,017,278 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Coca-Cola Europacific Partners by 800.5% during the 4th quarter. Public Sector Pension Investment Board now owns 663,146 shares of the company’s stock worth $44,258,000 after purchasing an additional 589,500 shares during the period. First Trust Advisors LP lifted its holdings in shares of Coca-Cola Europacific Partners by 1,735.9% in the 4th quarter. First Trust Advisors LP now owns 456,425 shares of the company’s stock worth $30,462,000 after purchasing an additional 431,564 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Coca-Cola Europacific Partners by 64.5% in the 4th quarter. UBS Group AG now owns 979,045 shares of the company’s stock worth $65,341,000 after purchasing an additional 384,000 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock traded up $0.85 during midday trading on Thursday, reaching $73.59. 805,964 shares of the company were exchanged, compared to its average volume of 1,340,853. The company’s 50 day moving average price is $73.47 and its two-hundred day moving average price is $70.07. Coca-Cola Europacific Partners PLC has a 12 month low of $56.28 and a 12 month high of $76.44. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 1.27.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, May 23rd. Investors of record on Friday, May 10th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a yield of 5.6%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com lowered Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research report on Sunday, May 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Argus boosted their target price on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Barclays raised their price target on shares of Coca-Cola Europacific Partners from $78.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.44.

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.