Retirement Systems of Alabama Acquires New Shares in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Retirement Systems of Alabama bought a new position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 68,804 shares of the company’s stock, valued at approximately $5,988,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCEP. Norges Bank acquired a new position in Coca-Cola Europacific Partners in the fourth quarter valued at about $190,999,000. Invesco Ltd. raised its stake in shares of Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after acquiring an additional 2,105,019 shares during the period. Barclays PLC lifted its holdings in shares of Coca-Cola Europacific Partners by 236.4% in the 4th quarter. Barclays PLC now owns 1,804,855 shares of the company’s stock worth $138,631,000 after acquiring an additional 1,268,401 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock worth $221,835,000 after acquiring an additional 872,060 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Coca-Cola Europacific Partners by 842.4% during the 4th quarter. Jane Street Group LLC now owns 714,988 shares of the company’s stock worth $54,918,000 after purchasing an additional 639,119 shares during the period. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CCEP shares. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. Barclays lifted their price objective on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, UBS Group lifted their price objective on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.50.

Coca-Cola Europacific Partners Stock Down 0.3%

Shares of NASDAQ:CCEP opened at $92.67 on Wednesday. The stock’s 50-day moving average price is $90.24 and its two-hundred day moving average price is $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. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $94.74. The firm has a market cap of $42.72 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 5.01 and a beta of 0.78.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently disclosed 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.

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.