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 significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,030,000 shares, a growth of 29.5% from the October 31st total of 2,340,000 shares. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is currently 2.2 days. Currently, 1.5% of the shares of the stock are short sold.

Coca-Cola Europacific Partners Stock Down 0.1 %

NASDAQ:CCEP opened at $77.58 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. Coca-Cola Europacific Partners has a one year low of $59.31 and a one year high of $82.32. The firm’s 50 day simple moving average is $77.52 and its 200 day simple moving average is $76.22.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $1.34 dividend. This is a boost from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date is Friday, November 15th. This represents a dividend yield of 2.6%.

Analyst Ratings Changes

A number of brokerages have weighed in on CCEP. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. 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 note on Monday, September 9th. Barclays raised their price target on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, BNP Paribas cut shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.78.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Coca-Cola Europacific Partners by 307.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company’s stock valued at $191,984,000 after buying an additional 1,839,321 shares during the period. Point72 Asset Management L.P. boosted its holdings 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 acquiring an additional 711,121 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Coca-Cola Europacific Partners in the third quarter valued at approximately $52,364,000. Point72 Europe London LLP bought a new position in Coca-Cola Europacific Partners during the 2nd quarter worth approximately $26,341,000. Finally, Samlyn Capital LLC lifted its position in shares of 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 worth $135,155,000 after purchasing an additional 349,466 shares during the period. 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.