Victory Capital Management Inc. Sells 16,706 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Victory Capital Management Inc. lessened its stake in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 287,736 shares of the company’s stock after selling 16,706 shares during the quarter. Victory Capital Management Inc.’s holdings in Coca-Cola Europacific Partners were worth $22,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Aigen Investment Management LP bought a new stake in shares of Coca-Cola Europacific Partners during the third quarter worth $268,000. GSA Capital Partners LLP bought a new stake in shares of Coca-Cola Europacific Partners during the third quarter worth $1,942,000. Entropy Technologies LP bought a new stake in shares of Coca-Cola Europacific Partners during the third quarter worth $4,596,000. State of New Jersey Common Pension Fund D grew its stake in shares of Coca-Cola Europacific Partners by 4.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 87,965 shares of the company’s stock worth $6,927,000 after buying an additional 3,500 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Coca-Cola Europacific Partners during the third quarter worth $216,000. Institutional investors own 31.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CCEP has been the topic of several analyst reports. Barclays boosted their price objective on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Evercore ISI boosted their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, BNP Paribas cut 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. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus target price of $81.22.

Coca-Cola Europacific Partners Price Performance

CCEP stock opened at $76.03 on Tuesday. The firm has a market cap of $34.73 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 3.64 and a beta of 0.90. 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. The company’s fifty day simple moving average is $78.12 and its 200 day simple moving average is $75.97.

Coca-Cola Europacific Partners Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a dividend yield of 2.6%. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. Coca-Cola Europacific Partners’s dividend payout ratio is currently 35.03%.

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.