Ibex Wealth Advisors Takes Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Ibex Wealth Advisors purchased a new position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 96,233 shares of the company’s stock, valued at approximately $7,392,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCEP. MassMutual Private Wealth & Trust FSB increased its position in Coca-Cola Europacific Partners by 85.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock worth $33,000 after purchasing an additional 197 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in 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 acquiring an additional 139 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Coca-Cola Europacific Partners during the 3rd quarter worth $50,000. Brown Brothers Harriman & Co. raised its position in shares of Coca-Cola Europacific Partners by 1,604.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company’s stock valued at $67,000 after acquiring an additional 802 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Coca-Cola Europacific Partners by 21.5% in the 3rd quarter. Blue Trust Inc. now owns 1,023 shares of the company’s stock valued at $75,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

CCEP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $82.00 in a report on Wednesday, November 27th. 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 research report on Wednesday, November 6th. Sanford C. Bernstein initiated coverage on shares of Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price objective for the company. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.11.

Coca-Cola Europacific Partners Stock Up 0.7 %

Shares of NASDAQ CCEP traded up $0.58 during midday trading on Wednesday, reaching $78.14. The company’s stock had a trading volume of 106,912 shares, compared to its average volume of 1,547,579. Coca-Cola Europacific Partners PLC has a fifty-two week low of $65.77 and a fifty-two week high of $82.32. The stock has a 50 day simple moving average of $76.87 and a 200-day simple moving average of $77.11. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63.

Coca-Cola Europacific Partners Increases Dividend

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

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.