Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Sees Significant Drop in Short Interest

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totalling 2,950,000 shares, a decline of 12.2% from the August 31st total of 3,360,000 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is presently 2.1 days.

Analysts Set New Price Targets

A number of analysts recently weighed in on CCEP shares. Bank of America raised their price target on shares of Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their target price on 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. BNP Paribas lowered shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a research note on Tuesday, September 10th. Finally, Barclays lifted their price target on shares of Coca-Cola Europacific Partners from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.78.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

A number of large investors have recently added to or reduced their stakes in the stock. FIL Ltd increased its holdings in Coca-Cola Europacific Partners by 9.6% in the fourth quarter. FIL Ltd now owns 3,629,675 shares of the company’s stock valued at $242,245,000 after purchasing an additional 317,936 shares during the period. Point72 Asset Management L.P. increased its position in Coca-Cola Europacific Partners by 89.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,156,056 shares of the company’s stock valued at $143,895,000 after purchasing an additional 1,017,278 shares during the period. Samlyn Capital LLC increased its position in shares of Coca-Cola Europacific Partners by 23.2% during the second quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock worth $135,155,000 after buying an additional 349,466 shares during the period. Fiduciary Management Inc. WI boosted its holdings in shares of Coca-Cola Europacific Partners by 25.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,785,320 shares of the company’s stock worth $119,152,000 after buying an additional 365,820 shares in the last quarter. Finally, Millennium Management LLC grew 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 worth $119,217,000 after purchasing an additional 115,604 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Up 0.2 %

Shares of NASDAQ CCEP traded up $0.13 during midday trading on Friday, hitting $79.18. 1,047,650 shares of the company’s stock were exchanged, compared to its average volume of 1,417,881. Coca-Cola Europacific Partners has a 12 month low of $56.28 and a 12 month high of $82.32. The company’s 50 day moving average price is $77.61 and its 200 day moving average price is $74.05. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85.

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.