PNC Financial Services Group Inc. Buys 815 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

PNC Financial Services Group Inc. grew its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 6.0% during the third quarter, HoldingsChannel reports. The firm owned 14,394 shares of the company’s stock after purchasing an additional 815 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Coca-Cola Europacific Partners were worth $1,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CCEP. Whittier Trust Co. of Nevada Inc. boosted its position in Coca-Cola Europacific Partners by 38.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after acquiring an additional 139 shares in the last quarter. New Millennium Group LLC purchased a new position in shares of Coca-Cola Europacific Partners in the 2nd quarter valued at approximately $37,000. New Covenant Trust Company N.A. bought a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at approximately $36,000. Plato Investment Management Ltd purchased a new stake in Coca-Cola Europacific Partners in the third quarter worth $50,000. Finally, Mather Group LLC. raised its holdings in Coca-Cola Europacific Partners by 142.0% in the second quarter. Mather Group LLC. now owns 668 shares of the company’s stock worth $47,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CCEP. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. BNP Paribas lowered 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 note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of 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. Evercore ISI boosted their price target on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lowered Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $82.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.78.

Coca-Cola Europacific Partners Price Performance

CCEP stock opened at $77.63 on Thursday. The stock’s 50 day simple moving average is $77.67 and its 200 day simple moving average is $76.17. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. Coca-Cola Europacific Partners PLC has a 12-month low of $59.31 and a 12-month high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $1.34 per share. 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%. 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.