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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 5,260,000 shares, an increase of 5.6% from the March 15th total of 4,980,000 shares. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is presently 3.4 days. Currently, 2.6% of the shares of the company are short sold.

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. GAMMA Investing LLC purchased a new stake in Coca-Cola Europacific Partners in the 4th quarter worth $28,000. Harbour Investments Inc. purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at about $31,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at about $33,000. KB Financial Partners LLC bought a new position in Coca-Cola Europacific Partners during the 1st quarter valued at about $33,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Coca-Cola Europacific Partners by 220.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the company’s stock valued at $34,000 after purchasing an additional 352 shares during the last quarter. Institutional investors own 31.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCEP. Argus raised their target price on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. UBS Group raised their price objective on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a “buy” rating in a report on Monday, February 26th. BNP Paribas raised Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 price objective on the stock in a report on Friday, January 12th. Deutsche Bank Aktiengesellschaft raised their price objective on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Barclays raised their target price on Coca-Cola Europacific Partners from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and an average target price of $74.02.

Coca-Cola Europacific Partners Trading Down 0.9 %

NASDAQ CCEP traded down $0.63 during trading on Tuesday, hitting $66.45. 1,253,839 shares of the company’s stock traded hands, compared to its average volume of 1,534,613. The stock has a fifty day moving average of $69.33 and a two-hundred day moving average of $65.18. Coca-Cola Europacific Partners has a 12-month low of $56.28 and a 12-month high of $72.67. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.72 and a current ratio of 0.91.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.85 EPS for the quarter, hitting the consensus estimate of $1.85. As a group, equities analysts anticipate that Coca-Cola Europacific Partners will post 4.18 earnings per share for the current fiscal year.

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.