Royal Bank of Canada Boosts Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Royal Bank of Canada grew its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 1.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 866,898 shares of the company’s stock after buying an additional 8,863 shares during the period. Royal Bank of Canada’s holdings in Coca-Cola Europacific Partners were worth $66,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $27,000. Optiver Holding B.V. purchased a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Coca-Cola Europacific Partners by 85.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock worth $33,000 after buying an additional 197 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Coca-Cola Europacific Partners in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Down 0.1%

CCEP opened at $88.56 on Wednesday. Coca-Cola Europacific Partners PLC has a fifty-two week low of $70.82 and a fifty-two week high of $91.37. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The company has a fifty day moving average of $87.18 and a two-hundred day moving average of $81.86. The stock has a market capitalization of $40.82 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 4.89 and a beta of 0.77.

Coca-Cola Europacific Partners Cuts Dividend

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

Analyst Ratings Changes

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

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.