Legacy Financial Advisors Inc. Buys New Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Legacy Financial Advisors Inc. purchased a new position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,885 shares of the company’s stock, valued at approximately $259,000.

A number of other institutional investors have also recently made changes to their positions in CCEP. AustralianSuper Pty Ltd bought a new stake in Coca-Cola Europacific Partners in the 4th quarter worth approximately $1,467,000. Pacer Advisors Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 1,120.3% in the 4th quarter. Pacer Advisors Inc. now owns 23,332 shares of the company’s stock valued at $1,557,000 after purchasing an additional 21,420 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Coca-Cola Europacific Partners in the 3rd quarter valued at $685,000. International Assets Investment Management LLC bought a new position in shares of Coca-Cola Europacific Partners during the 4th quarter valued at $5,876,000. Finally, Korea Investment CORP raised its position in Coca-Cola Europacific Partners by 4.1% in the 3rd quarter. Korea Investment CORP now owns 252,644 shares of the company’s stock worth $15,843,000 after purchasing an additional 9,893 shares during the period. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock traded up $0.28 during trading hours on Friday, reaching $71.81. The company’s stock had a trading volume of 1,134,491 shares, compared to its average volume of 1,321,475. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72. Coca-Cola Europacific Partners PLC has a one year low of $56.28 and a one year high of $72.67. The firm’s fifty day simple moving average is $69.96 and its 200 day simple moving average is $66.12.

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

Coca-Cola Europacific Partners Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Friday, May 10th will be given a $0.79 dividend. The ex-dividend date is Thursday, May 9th. This represents a dividend yield of 5.6%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CCEP. Barclays upped their price target on shares of Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. UBS Group raised their price target on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. BNP Paribas upgraded Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 price objective for the company in a research report on Friday, January 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Argus lifted their target price on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $75.78.

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.