Short Interest in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Declines By 7.2%

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,320,000 shares, a drop of 7.2% from the September 30th total of 2,500,000 shares. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Several hedge funds and other institutional investors have recently bought and sold shares of CCEP. Whittier Trust Co. of Nevada Inc. increased its stake 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 last quarter. Janney Capital Management LLC lifted its position in shares of Coca-Cola Europacific Partners by 4.4% during the third quarter. Janney Capital Management LLC now owns 3,417 shares of the company’s stock worth $269,000 after purchasing an additional 145 shares during the last quarter. Signaturefd LLC grew its stake in Coca-Cola Europacific Partners by 2.6% in the second quarter. Signaturefd LLC now owns 5,735 shares of the company’s stock worth $418,000 after purchasing an additional 147 shares in the last quarter. Waverly Advisors LLC raised its stake in Coca-Cola Europacific Partners by 1.0% during the first quarter. Waverly Advisors LLC now owns 14,856 shares of the company’s stock valued at $1,039,000 after buying an additional 151 shares in the last quarter. Finally, CWM LLC grew its position in shares of Coca-Cola Europacific Partners by 14.5% in the 3rd quarter. CWM LLC now owns 1,318 shares of the company’s stock worth $104,000 after acquiring an additional 167 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Down 0.2 %

NASDAQ:CCEP traded down $0.12 on Friday, reaching $75.88. The stock had a trading volume of 349,259 shares, compared to its average volume of 1,393,154. The company has a 50-day moving average of $78.94 and a 200 day moving average of $75.25. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners has a 12-month low of $58.94 and a 12-month high of $82.32.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CCEP. BNP Paribas cut Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price for the company. in a report on Tuesday, September 10th. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. 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. Barclays reduced their target price on shares of Coca-Cola Europacific Partners from $85.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Bank of America increased their price target on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.88.

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.