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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a significant growth in short interest in 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. Approximately 1.9% of the company’s shares are short sold. Based on an average trading volume of 1,510,000 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CCEP shares. Sanford C. Bernstein initiated coverage on Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price target on the stock. Barclays dropped their target price on shares of 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. JPMorgan Chase & Co. cut shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $82.00 in a report on Wednesday, November 27th. UBS Group raised their price objective on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Four research 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.11.

Coca-Cola Europacific Partners Stock Up 2.6 %

Coca-Cola Europacific Partners stock traded up $2.19 during mid-day trading on Monday, reaching $84.90. The company’s stock had a trading volume of 2,466,593 shares, compared to its average volume of 1,553,985. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. Coca-Cola Europacific Partners has a 12 month low of $65.94 and a 12 month high of $85.61. The business’s 50 day simple moving average is $77.54 and its 200 day simple moving average is $77.72.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $27,000. Optiver Holding B.V. acquired a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 buying an additional 197 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter valued at approximately $34,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 38.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after buying an additional 139 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

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.