Gateway Investment Advisers LLC Sells 1,167 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Gateway Investment Advisers LLC trimmed its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 38,738 shares of the company’s stock after selling 1,167 shares during the period. Gateway Investment Advisers LLC’s holdings in Coca-Cola Europacific Partners were worth $2,975,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CCEP. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 38.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after purchasing an additional 139 shares during the last quarter. Janney Capital Management LLC boosted its position in Coca-Cola Europacific Partners by 4.4% during the third quarter. Janney Capital Management LLC now owns 3,417 shares of the company’s stock valued at $269,000 after acquiring an additional 145 shares during the last quarter. CWM LLC grew its holdings in Coca-Cola Europacific Partners by 14.5% during the 3rd quarter. CWM LLC now owns 1,318 shares of the company’s stock worth $104,000 after acquiring an additional 167 shares during the period. Legacy Financial Advisors Inc. raised its position in shares of Coca-Cola Europacific Partners by 3.8% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,605 shares of the company’s stock worth $336,000 after acquiring an additional 168 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Coca-Cola Europacific Partners by 0.4% in the 3rd quarter. HighTower Advisors LLC now owns 41,187 shares of the company’s stock valued at $3,242,000 after purchasing an additional 177 shares during the period. 31.35% of the stock is owned by institutional investors.

Coca-Cola Europacific Partners Trading Up 1.5 %

CCEP stock opened at $77.07 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. The business has a 50-day simple moving average of $76.85 and a two-hundred day simple moving average of $76.84. Coca-Cola Europacific Partners PLC has a 52-week low of $65.74 and a 52-week high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a dividend of $1.34 per share. The ex-dividend date was Friday, November 15th. This represents a 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

CCEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $82.00 in a report on Wednesday, November 27th. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Evercore ISI raised their price target on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barclays reduced their target price on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus price target of $84.11.

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.