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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a large decrease in short interest in September. As of September 30th, there was short interest totalling 2,500,000 shares, a decrease of 15.3% from the September 15th total of 2,950,000 shares. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several large investors have recently bought and sold shares of the company. Samlyn Capital LLC increased its stake in shares of Coca-Cola Europacific Partners by 23.2% in the second 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 period. Millennium Management LLC increased its position in Coca-Cola Europacific Partners by 7.6% in the 2nd quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock valued at $119,217,000 after acquiring an additional 115,604 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Coca-Cola Europacific Partners by 144.1% during 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. Public Sector Pension Investment Board lifted its holdings in shares of Coca-Cola Europacific Partners by 3.4% during the second 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Coca-Cola Europacific Partners in the first quarter worth $47,839,000. 31.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CCEP shares. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America increased their price target on shares of 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. BNP Paribas cut 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. Deutsche Bank Aktiengesellschaft upped 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. Finally, Barclays decreased their price target on Coca-Cola Europacific Partners from $85.00 to $84.00 and set an “overweight” rating on the stock 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and an average target price of $80.88.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP traded down $0.24 during trading hours on Wednesday, reaching $76.94. The stock had a trading volume of 808,281 shares, compared to its average volume of 1,410,684. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners has a 12 month low of $56.45 and a 12 month high of $82.32. The stock has a market capitalization of $35.15 billion, a PE ratio of 16.41, a PEG ratio of 3.54 and a beta of 0.90. The company’s 50-day moving average is $78.65 and its two-hundred day moving average is $74.63.

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.