Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Shares Bought by Citigroup Inc.

Citigroup Inc. grew its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 630,779 shares of the company’s stock after purchasing an additional 56,551 shares during the quarter. Citigroup Inc.’s holdings in Coca-Cola Europacific Partners were worth $49,674,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its stake in shares of Coca-Cola Europacific Partners by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,757,976 shares of the company’s stock worth $217,191,000 after purchasing an additional 32,776 shares in the last quarter. Moran Wealth Management LLC lifted its stake in shares of Coca-Cola Europacific Partners by 1.1% during the third quarter. Moran Wealth Management LLC now owns 44,217 shares of the company’s stock worth $3,482,000 after purchasing an additional 460 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Coca-Cola Europacific Partners during the third quarter worth about $482,000. PNC Financial Services Group Inc. lifted its stake in shares of Coca-Cola Europacific Partners by 6.0% during the third quarter. PNC Financial Services Group Inc. now owns 14,394 shares of the company’s stock worth $1,134,000 after purchasing an additional 815 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in shares of Coca-Cola Europacific Partners by 1.6% during the third quarter. Pathstone Holdings LLC now owns 47,473 shares of the company’s stock worth $3,738,000 after purchasing an additional 756 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CCEP shares. BNP Paribas cut Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Tuesday, September 10th. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays boosted 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. Evercore ISI boosted 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. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.22.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $78.21 on Monday. 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. The business has a 50-day moving average price of $77.87 and a 200 day moving average price of $76.10.

Coca-Cola Europacific Partners Increases Dividend

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

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.