Foundry Partners LLC Trims Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Foundry Partners LLC cut its position in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,516 shares of the company’s stock after selling 1,347 shares during the period. Coca-Cola Europacific Partners makes up 0.8% of Foundry Partners LLC’s portfolio, making the stock its 29th largest holding. Foundry Partners LLC’s holdings in Coca-Cola Europacific Partners were worth $16,657,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its position in Coca-Cola Europacific Partners by 38.1% in the 3rd 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 during the period. New Millennium Group LLC bought a new position in Coca-Cola Europacific Partners in the second quarter worth approximately $37,000. Crewe Advisors LLC purchased a new position in shares of Coca-Cola Europacific Partners during the first quarter valued at $36,000. New Covenant Trust Company N.A. bought a new stake in shares of Coca-Cola Europacific Partners in the first quarter valued at about $36,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Coca-Cola Europacific Partners in the 3rd quarter worth approximately $50,000. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Trading Down 0.1 %

Shares of CCEP stock opened at $75.99 on Thursday. 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 debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. The business has a 50-day simple moving average of $77.98 and a 200-day simple moving average of $76.00.

Coca-Cola Europacific Partners Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a $1.34 dividend. This represents a yield of 2.6%. The ex-dividend date is Friday, November 15th. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price 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 target price on 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. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Barclays boosted 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 report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.22.

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.