First Trust Direct Indexing L.P. Boosts Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

First Trust Direct Indexing L.P. lifted its position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,066 shares of the company’s stock after buying an additional 964 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Coca-Cola Europacific Partners were worth $672,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AustralianSuper Pty Ltd purchased a new stake in Coca-Cola Europacific Partners in the 4th quarter worth approximately $1,467,000. Pacer Advisors Inc. boosted its stake in Coca-Cola Europacific Partners by 1,120.3% during the fourth quarter. Pacer Advisors Inc. now owns 23,332 shares of the company’s stock valued at $1,557,000 after buying an additional 21,420 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in Coca-Cola Europacific Partners during the third quarter worth about $685,000. International Assets Investment Management LLC bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $5,876,000. Finally, Korea Investment CORP raised its holdings in shares of Coca-Cola Europacific Partners by 4.1% in the 3rd quarter. Korea Investment CORP now owns 252,644 shares of the company’s stock valued at $15,843,000 after acquiring an additional 9,893 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCEP has been the subject of several recent analyst reports. Barclays boosted their price objective on Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. StockNews.com raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. UBS Group lifted their price target on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Argus increased their price objective on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $75.78.

Coca-Cola Europacific Partners Trading Up 0.4 %

CCEP opened at $71.81 on Friday. Coca-Cola Europacific Partners PLC has a 12 month low of $56.28 and a 12 month high of $72.67. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27. The business’s 50-day moving average price is $69.96 and its 200-day moving average price is $66.12.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last posted its quarterly earnings results on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.85. On average, analysts expect that Coca-Cola Europacific Partners PLC will post 4.15 EPS for the current year.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, May 23rd. Investors of record on Friday, May 10th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a yield of 5.6%.

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.