Bank of America Corp DE Has $211.44 Million Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Bank of America Corp DE decreased its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,752,711 shares of the company’s stock after selling 300,553 shares during the period. Bank of America Corp DE owned about 0.60% of Coca-Cola Europacific Partners worth $211,436,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at $27,000. Optiver Holding B.V. bought a new position in Coca-Cola Europacific Partners in the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Coca-Cola Europacific Partners by 85.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock valued at $33,000 after purchasing an additional 197 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter worth about $34,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Coca-Cola Europacific Partners in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Ratings Changes

CCEP has been the topic of several recent research reports. UBS Group lifted their target price on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Kepler Capital Markets cut shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research note on Tuesday, February 25th. Evercore ISI raised their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Barclays upped their price target on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.50.

Coca-Cola Europacific Partners Trading Down 1.4 %

NASDAQ CCEP opened at $89.78 on Friday. The stock has a market capitalization of $41.38 billion, a P/E ratio of 18.47, a P/E/G ratio of 4.89 and a beta of 0.77. The business has a 50 day simple moving average of $86.43 and a 200 day simple moving average of $81.21. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. Coca-Cola Europacific Partners PLC has a one year low of $70.82 and a one year high of $91.37.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be paid a $0.8993 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners’s dividend payout ratio is currently 16.26%.

Coca-Cola Europacific Partners 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.