Verdence Capital Advisors LLC Sells 2,271 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Verdence Capital Advisors LLC reduced its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 25.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,564 shares of the company’s stock after selling 2,271 shares during the period. Verdence Capital Advisors LLC’s holdings in Coca-Cola Europacific Partners were worth $517,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. grew its holdings in 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 purchasing an additional 139 shares during the period. New Millennium Group LLC bought a new stake in Coca-Cola Europacific Partners in the 2nd quarter valued at $37,000. Crewe Advisors LLC acquired a new position in Coca-Cola Europacific Partners in the 1st quarter worth $36,000. New Covenant Trust Company N.A. bought a new position in Coca-Cola Europacific Partners during the 1st quarter worth about $36,000. Finally, Mather Group LLC. lifted its holdings in shares of Coca-Cola Europacific Partners by 142.0% in the second quarter. Mather Group LLC. now owns 668 shares of the company’s stock valued at $47,000 after purchasing an additional 392 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCEP has been the subject of a number of recent research reports. Barclays upped their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI lifted their price target on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. BNP Paribas downgraded shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research note on Tuesday, September 10th. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average target price of $81.22.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $77.06 on Tuesday. Coca-Cola Europacific Partners PLC has a 52 week low of $59.31 and a 52 week high of $82.32. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. The company has a 50-day simple moving average of $78.60 and a 200 day simple moving average of $75.74.

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 given a dividend of $1.34 per share. This represents a dividend yield of 2.6%. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend is Friday, November 15th.

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.