Wellington Management Group LLP Acquires 18,133 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Wellington Management Group LLP lifted its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 461,785 shares of the company’s stock after buying an additional 18,133 shares during the period. Wellington Management Group LLP’s holdings in Coca-Cola Europacific Partners were worth $36,366,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. New Millennium Group LLC purchased a new position in shares of Coca-Cola Europacific Partners in the second quarter worth $37,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of 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 valued at $40,000 after buying an additional 139 shares during the period. Plato Investment Management Ltd bought a new position in Coca-Cola Europacific Partners in the third quarter worth about $50,000. Family Firm Inc. purchased a new stake in Coca-Cola Europacific Partners in the second quarter worth about $56,000. Finally, Brown Brothers Harriman & Co. raised its position in shares of Coca-Cola Europacific Partners by 1,604.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company’s stock worth $67,000 after acquiring an additional 802 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays upped their price objective on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Evercore ISI raised their price objective on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Sanford C. Bernstein started coverage on Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 target price on the stock. UBS Group lifted their price target on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, BNP Paribas downgraded shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and an average target price of $84.44.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $79.11 on Friday. The business has a fifty day moving average of $77.39 and a 200 day moving average of $76.44. The firm has a market capitalization of $36.14 billion, a P/E ratio of 17.58, a PEG ratio of 3.79 and a beta of 0.90. Coca-Cola Europacific Partners PLC has a one year low of $63.80 and a one year high of $82.32. 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 Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Friday, November 15th. This is an increase 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’s payout ratio is 35.11%.

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.