SG Americas Securities LLC Lowers Holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

SG Americas Securities LLC lessened its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 85.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,766 shares of the company’s stock after selling 368,355 shares during the quarter. SG Americas Securities LLC’s holdings in Coca-Cola Europacific Partners were worth $5,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Princeton Global Asset Management LLC purchased a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth about $8,132,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Coca-Cola Europacific Partners by 3.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 15,974 shares of the company’s stock worth $1,390,000 after purchasing an additional 466 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth about $206,000. NBC Securities Inc. purchased a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth about $28,000. Finally, GAMMA Investing LLC raised its position in shares of Coca-Cola Europacific Partners by 8,438.0% in the 1st quarter. GAMMA Investing LLC now owns 44,995 shares of the company’s stock worth $3,916,000 after purchasing an additional 44,468 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP opened at $93.53 on Friday. Coca-Cola Europacific Partners PLC has a 52 week low of $71.49 and a 52 week high of $93.61. The firm has a market capitalization of $43.11 billion, a P/E ratio of 19.24, a PEG ratio of 4.89 and a beta of 0.78. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average price of $89.05 and a 200-day moving average price of $83.46.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were given a dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 16th. Coca-Cola Europacific Partners’s 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.