M&G PLC Has $8.33 Million Stock Position in Coca-Cola Europacific Partners $CCEP

M&G PLC cut its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) by 28.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,578 shares of the company’s stock after selling 35,314 shares during the period. M&G PLC’s holdings in Coca-Cola Europacific Partners were worth $8,331,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CCEP. Nordea Investment Management AB increased its holdings in Coca-Cola Europacific Partners by 0.8% in the second quarter. Nordea Investment Management AB now owns 1,239,257 shares of the company’s stock worth $113,999,000 after buying an additional 10,014 shares during the last quarter. Smith Group Asset Management LLC lifted its stake in Coca-Cola Europacific Partners by 5.8% in the second quarter. Smith Group Asset Management LLC now owns 82,641 shares of the company’s stock valued at $7,662,000 after acquiring an additional 4,510 shares during the last quarter. Entropy Technologies LP bought a new stake in Coca-Cola Europacific Partners in the first quarter worth approximately $5,957,000. Jump Financial LLC increased its stake in shares of Coca-Cola Europacific Partners by 503.4% during the 1st quarter. Jump Financial LLC now owns 21,607 shares of the company’s stock worth $1,880,000 after purchasing an additional 18,026 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Coca-Cola Europacific Partners by 22.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,839 shares of the company’s stock valued at $2,303,000 after purchasing an additional 4,480 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Up 0.2%

Coca-Cola Europacific Partners stock opened at $93.30 on Thursday. The business has a 50 day moving average price of $89.55 and a two-hundred day moving average price of $91.40. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month high of $100.67. The stock has a market cap of $43.01 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Friday, November 14th will be issued a $1.25 dividend. This represents a yield of 283.0%. The ex-dividend date of this dividend is Friday, November 14th.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCEP. Barclays reduced their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Morgan Stanley downgraded Coca-Cola Europacific Partners from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $92.40.

Coca-Cola Europacific Partners Company 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.