Oppenheimer Asset Management Inc. Sells 1,723 Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP)

Oppenheimer Asset Management Inc. trimmed its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,159 shares of the company’s stock after selling 1,723 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $6,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCEP. SBI Securities Co. Ltd. acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at $27,000. NBC Securities Inc. acquired a new position in shares of Coca-Cola Europacific Partners in the 1st quarter valued at $28,000. Optiver Holding B.V. acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at $29,000. Summit Securities Group LLC acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at $34,000. Finally, Whipplewood Advisors LLC bought a new position in Coca-Cola Europacific Partners during the fourth quarter worth about $52,000. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP opened at $92.67 on Wednesday. Coca-Cola Europacific Partners has a 1 year low of $71.49 and a 1 year high of $94.74. The firm has a 50 day moving average of $90.24 and a 200-day moving average of $84.33. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $42.72 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 5.01 and a beta of 0.78.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were paid a $0.8993 dividend. This represents a dividend yield of 2.4%. The ex-dividend date was Friday, May 16th.

Wall Street Analyst Weigh In

A number of research analysts have commented on CCEP shares. Barclays raised their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. UBS Group raised their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus price target 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.