State of New Jersey Common Pension Fund D Raises Position in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

State of New Jersey Common Pension Fund D lifted its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 4.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 87,965 shares of the company’s stock after acquiring an additional 3,500 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Coca-Cola Europacific Partners were worth $6,927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its position in shares of 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 worth $40,000 after buying an additional 139 shares during the period. New Millennium Group LLC purchased a new position in Coca-Cola Europacific Partners in the second quarter valued at about $37,000. Crewe Advisors LLC acquired a new stake in Coca-Cola Europacific Partners during the 1st quarter valued at approximately $36,000. New Covenant Trust Company N.A. acquired a new stake in Coca-Cola Europacific Partners during the 1st quarter valued at approximately $36,000. Finally, Mather Group LLC. grew its stake in Coca-Cola Europacific Partners by 142.0% during the 2nd quarter. Mather Group LLC. now owns 668 shares of the company’s stock valued at $47,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CCEP. Barclays raised their price objective on 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. Deutsche Bank Aktiengesellschaft raised their price objective on 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. BNP Paribas lowered 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 note on Tuesday, September 10th. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Evercore ISI raised their price objective on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. 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.com, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and an average price target of $81.22.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $77.06 on Tuesday. Coca-Cola Europacific Partners PLC has a 12-month low of $59.31 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 stock’s 50 day simple moving average is $78.60 and its 200 day simple moving average is $75.74.

Coca-Cola Europacific Partners Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a $1.34 dividend. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend is Friday, November 15th. This represents a dividend 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.