CIBC Asset Management Inc Buys 3,742 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

CIBC Asset Management Inc lifted its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 3.8% during the 3rd quarter, Holdings Channel reports. The firm owned 101,404 shares of the company’s stock after acquiring an additional 3,742 shares during the period. CIBC Asset Management Inc’s holdings in Coca-Cola Europacific Partners were worth $7,986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CCEP. New Covenant Trust Company N.A. bought a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth $36,000. Crewe Advisors LLC bought a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth $36,000. New Millennium Group LLC bought a new position in Coca-Cola Europacific Partners during the second quarter worth about $37,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Coca-Cola Europacific Partners by 38.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after acquiring an additional 139 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in Coca-Cola Europacific Partners by 142.0% during the second quarter. Mather Group LLC. now owns 668 shares of the company’s stock worth $47,000 after acquiring an additional 392 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Trading Down 2.1 %

NASDAQ:CCEP opened at $75.76 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. The stock’s 50-day simple moving average is $78.24 and its 200 day simple moving average is $75.91. Coca-Cola Europacific Partners PLC has a 52-week low of $59.31 and a 52-week high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a $1.34 dividend. The ex-dividend date is Friday, November 15th. This represents a dividend yield of 2.6%. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79.

Analysts Set New Price Targets

Several research analysts have weighed in on CCEP shares. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Evercore ISI lifted their target price on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price on the stock. in a report on Tuesday, September 10th. Barclays lifted their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.22.

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.