Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Sees Large Increase in Short Interest

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 3,960,000 shares, a growth of 10.6% from the January 15th total of 3,580,000 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 1,510,000 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CCEP. JPMorgan Chase & Co. cut shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $82.00 in a research note on Wednesday, November 27th. Sanford C. Bernstein began coverage on Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price target for the company. Evercore ISI boosted their price objective on 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. Barclays decreased their target price on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, UBS Group lifted their price target on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.11.

Coca-Cola Europacific Partners Trading Up 2.6 %

CCEP stock traded up $2.19 during midday trading on Monday, reaching $84.90. The stock had a trading volume of 2,466,593 shares, compared to its average volume of 1,553,985. Coca-Cola Europacific Partners has a twelve month low of $65.94 and a twelve month high of $85.61. 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 business has a fifty day simple moving average of $77.54 and a two-hundred day simple moving average of $77.72.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Several institutional investors have recently modified their holdings of CCEP. SBI Securities Co. Ltd. acquired a new position in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $27,000. Optiver Holding B.V. acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Coca-Cola Europacific Partners by 85.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock valued at $33,000 after purchasing an additional 197 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter worth $34,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Coca-Cola Europacific Partners by 38.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

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.