Manning & Napier Advisors LLC Sells 1,685 Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Manning & Napier Advisors LLC cut its holdings in shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,605 shares of the company’s stock after selling 1,685 shares during the period. Manning & Napier Advisors LLC’s holdings in Coca-Cola Europacific Partners were worth $3,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCEP. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 valued at $33,000 after buying an additional 197 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased 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 acquiring an additional 139 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Coca-Cola Europacific Partners in the 3rd quarter valued at about $50,000. Brown Brothers Harriman & Co. lifted its position in shares of Coca-Cola Europacific Partners by 1,604.0% during the third quarter. Brown Brothers Harriman & Co. now owns 852 shares of the company’s stock worth $67,000 after purchasing an additional 802 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Coca-Cola Europacific Partners by 21.5% during the third 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 last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Trading Up 0.8 %

Shares of CCEP stock opened at $78.18 on Thursday. Coca-Cola Europacific Partners PLC has a 12-month low of $65.77 and a 12-month 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 firm has a fifty day moving average of $76.87 and a 200-day moving average of $77.11.

Coca-Cola Europacific Partners Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on CCEP. UBS Group upped their price objective on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Morgan Stanley raised Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. lowered Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $82.00 in a research report on Wednesday, November 27th. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Evercore ISI boosted their price target 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. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.11.

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.