Independent Advisor Alliance Trims Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Independent Advisor Alliance reduced its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,293 shares of the company’s stock after selling 300 shares during the quarter. Independent Advisor Alliance’s holdings in Coca-Cola Europacific Partners were worth $968,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Coca-Cola Europacific Partners in the first quarter valued at approximately $36,000. New Millennium Group LLC purchased a new stake in shares of Coca-Cola Europacific Partners in the second quarter valued at approximately $37,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Coca-Cola Europacific Partners by 38.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after buying an additional 139 shares in the last quarter. Mather Group LLC. increased its position in shares of Coca-Cola Europacific Partners by 142.0% in the second quarter. Mather Group LLC. now owns 668 shares of the company’s stock valued at $47,000 after buying an additional 392 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in shares of Coca-Cola Europacific Partners in the third quarter valued at approximately $50,000. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $77.63 on Thursday. The stock’s fifty day moving average is $77.67 and its two-hundred day moving average is $76.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. Coca-Cola Europacific Partners PLC has a fifty-two week low of $59.31 and a fifty-two week high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a dividend of $1.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a yield of 2.6%. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CCEP. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Barclays lifted their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $82.00 in a research note on Wednesday. Finally, Evercore ISI lifted their price target on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $81.78.

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.