Miracle Mile Advisors LLC Decreases Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Miracle Mile Advisors LLC lessened its holdings in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 9.6% during the first quarter, Holdings Channel.com reports. The firm owned 5,351 shares of the company’s stock after selling 566 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Coca-Cola Europacific Partners were worth $466,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $27,000. Optiver Holding B.V. bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $29,000. Summit Securities Group LLC bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several research reports. Barclays boosted their price objective 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. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research note on Tuesday, February 25th. Evercore ISI boosted their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, UBS Group boosted their price objective 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. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.50.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $92.89 on Wednesday. The firm has a 50-day moving average price of $88.66 and a 200-day moving average price of $83.29. The firm has a market capitalization of $42.82 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 4.89 and a beta of 0.78. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners PLC has a 12-month low of $71.49 and a 12-month high of $93.49.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were given a $0.8993 dividend. The ex-dividend date was Friday, May 16th. This represents a yield of 2.4%. Coca-Cola Europacific Partners’s dividend payout ratio (DPR) is 16.26%.

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.