Verition Fund Management LLC Sells 244,347 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Verition Fund Management LLC trimmed its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 93.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,852 shares of the company’s stock after selling 244,347 shares during the quarter. Verition Fund Management LLC’s holdings in Coca-Cola Europacific Partners were worth $1,406,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CCEP. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Coca-Cola Europacific Partners by 38.1% in 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 in the last quarter. New Millennium Group LLC bought a new position in shares of Coca-Cola Europacific Partners in the 2nd quarter valued at about $37,000. Plato Investment Management Ltd acquired a new position in shares of Coca-Cola Europacific Partners during the 3rd quarter worth about $50,000. Mather Group LLC. raised its holdings in shares of Coca-Cola Europacific Partners by 142.0% in the 2nd quarter. Mather Group LLC. now owns 668 shares of the company’s stock valued at $47,000 after purchasing an additional 392 shares during the period. Finally, Family Firm Inc. bought a new stake in shares of Coca-Cola Europacific Partners in the 2nd quarter valued at about $56,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CCEP. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $82.00 in a research report on Wednesday, November 27th. 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 report on Monday, September 9th. Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Evercore ISI increased 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 report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $83.11.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $77.68 on Friday. The stock’s fifty day moving average price is $77.37 and its two-hundred day moving average price is $76.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners PLC has a one year low of $62.93 and a one year high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given a dividend of $1.34 per share. This is a boost from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend was Friday, November 15th. This represents a yield of 2.6%.

Coca-Cola Europacific Partners Company 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.