Entropy Technologies LP Invests $4.60 Million in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Entropy Technologies LP bought a new stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,368 shares of the company’s stock, valued at approximately $4,596,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Samlyn Capital LLC boosted its position in Coca-Cola Europacific Partners by 23.2% in the second quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock valued at $135,155,000 after buying an additional 349,466 shares in the last quarter. Millennium Management LLC lifted its holdings in Coca-Cola Europacific Partners by 7.6% in the second quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock valued at $119,217,000 after buying an additional 115,604 shares during the period. Point72 Asset Management L.P. lifted its holdings in Coca-Cola Europacific Partners by 144.1% in the second quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock valued at $87,788,000 after buying an additional 711,121 shares during the period. Public Sector Pension Investment Board increased its stake in Coca-Cola Europacific Partners by 3.4% in the second quarter. Public Sector Pension Investment Board now owns 887,013 shares of the company’s stock valued at $64,637,000 after purchasing an additional 29,181 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Coca-Cola Europacific Partners in the first quarter valued at approximately $47,839,000. Institutional investors own 31.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CCEP. Barclays upped their target price on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company 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 report on Thursday, October 3rd. Evercore ISI increased 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 report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased 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 report on Monday, September 9th. Finally, BNP Paribas downgraded shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.22.

Coca-Cola Europacific Partners Trading Down 1.1 %

Shares of CCEP stock opened at $77.06 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average price of $78.60 and a two-hundred day moving average price of $75.74. Coca-Cola Europacific Partners PLC has a one year low of $59.31 and a one year high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

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

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.