Mediolanum International Funds Ltd Takes $10.63 Million Position in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Mediolanum International Funds Ltd bought a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 123,223 shares of the company’s stock, valued at approximately $10,634,000.

A number of other hedge funds have also made changes to their positions in the company. Assetmark Inc. grew its stake in Coca-Cola Europacific Partners by 107.3% during the first quarter. Assetmark Inc. now owns 284 shares of the company’s stock worth $25,000 after buying an additional 147 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Coca-Cola Europacific Partners in the first quarter valued at approximately $28,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company’s stock worth $32,000 after acquiring an additional 245 shares in the last quarter. Optiver Holding B.V. bought a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $29,000. Finally, HM Payson & Co. acquired a new stake in Coca-Cola Europacific Partners during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Analyst Ratings Changes

CCEP has been the subject of several research analyst reports. Barclays reiterated an “overweight” rating and issued a $104.00 price objective (up previously from $101.00) on shares of Coca-Cola Europacific Partners in a research report on Tuesday, July 15th. Wall Street Zen cut Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Finally, UBS Group raised their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.57.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP stock opened at $100.04 on Friday. The firm has a market cap of $46.11 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 5.06 and a beta of 0.77. Coca-Cola Europacific Partners has a 12 month low of $71.49 and a 12 month high of $100.67. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average price of $93.35 and a 200 day moving average price of $87.35.

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.

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.