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

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CCEP shares. BNP Paribas downgraded shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target for the company. in a research note on Tuesday, September 10th. Bank of America raised their price target on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upped their price target 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. Finally, Barclays lowered their target price on shares of Coca-Cola Europacific Partners from $85.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Two equities research 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 company’s stock. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.88.

Coca-Cola Europacific Partners Stock Down 0.5 %

Shares of Coca-Cola Europacific Partners stock traded down $0.40 during trading on Thursday, reaching $76.00. The stock had a trading volume of 1,313,692 shares, compared to its average volume of 1,398,148. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $34.72 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 3.54 and a beta of 0.90. Coca-Cola Europacific Partners has a 52 week low of $57.48 and a 52 week high of $82.32. The stock has a fifty day moving average price of $78.99 and a two-hundred day moving average price of $75.24.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several hedge funds have recently made changes to their positions in CCEP. Samlyn Capital LLC increased its stake in Coca-Cola Europacific Partners by 23.2% in the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock valued at $135,155,000 after buying an additional 349,466 shares during the last quarter. Millennium Management LLC boosted its position in Coca-Cola Europacific Partners by 7.6% during the second quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock valued at $119,217,000 after purchasing an additional 115,604 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Coca-Cola Europacific Partners by 144.1% in the second quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock valued at $87,788,000 after purchasing an additional 711,121 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Coca-Cola Europacific Partners by 3.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 887,013 shares of the company’s stock worth $64,637,000 after purchasing an additional 29,181 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter valued at approximately $47,839,000. 31.35% of the stock is owned by institutional investors.

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.