Balyasny Asset Management L.P. Has $78.38 Million Stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)

Balyasny Asset Management L.P. trimmed its stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,020,396 shares of the company’s stock after selling 83,972 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Coca-Cola Europacific Partners were worth $78,377,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Coca-Cola Europacific Partners in the third quarter valued at approximately $165,000. Wealth Enhancement Advisory Services LLC raised its position in Coca-Cola Europacific Partners by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,496 shares of the company’s stock valued at $3,740,000 after purchasing an additional 177 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in Coca-Cola Europacific Partners in the fourth quarter worth $455,000. Assenagon Asset Management S.A. grew its holdings in shares of Coca-Cola Europacific Partners by 1.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,851 shares of the company’s stock worth $1,525,000 after purchasing an additional 260 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of Coca-Cola Europacific Partners by 16.4% in the fourth quarter. Park Avenue Securities LLC now owns 18,056 shares of the company’s stock valued at $1,387,000 after buying an additional 2,548 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CCEP. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research report on Tuesday, February 25th. Barclays increased their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI boosted their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, UBS Group increased their price objective on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.50.

Coca-Cola Europacific Partners Stock Performance

Shares of Coca-Cola Europacific Partners stock opened at $89.71 on Monday. Coca-Cola Europacific Partners PLC has a 52 week low of $70.82 and a 52 week high of $91.29. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The stock has a market capitalization of $41.35 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 4.89 and a beta of 0.77. The firm has a fifty day moving average of $86.11 and a two-hundred day moving average of $80.91.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th will be paid a $0.8993 dividend. This represents a yield of 2.4%. The ex-dividend date is Friday, May 16th. Coca-Cola Europacific Partners’s payout ratio is 16.26%.

Coca-Cola Europacific Partners Company 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.