Short Interest in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Expands By 46.3%

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 4,360,000 shares, a growth of 46.3% from the March 15th total of 2,980,000 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 2,590,000 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CCEP. Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. Barclays upped their target price on shares of Coca-Cola Europacific Partners from $99.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, April 11th. Finally, Evercore ISI boosted their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.13.

Coca-Cola Europacific Partners Trading Up 1.6 %

CCEP stock opened at $89.31 on Friday. The company has a market capitalization of $41.17 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 4.89 and a beta of 0.73. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. Coca-Cola Europacific Partners has a 1-year low of $66.21 and a 1-year high of $91.29. The business has a 50 day simple moving average of $85.26 and a two-hundred day simple moving average of $79.98.

Institutional Trading of Coca-Cola Europacific Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in shares of Coca-Cola Europacific Partners by 26.3% in the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock worth $777,312,000 after purchasing an additional 2,105,019 shares during the last quarter. FMR LLC boosted its position in shares of Coca-Cola Europacific Partners by 3.3% during the 4th quarter. FMR LLC now owns 7,234,642 shares of the company’s stock valued at $555,693,000 after acquiring an additional 229,679 shares during the last quarter. Amundi grew its holdings in shares of Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Amundi now owns 3,078,851 shares of the company’s stock valued at $233,716,000 after purchasing an additional 87,675 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Coca-Cola Europacific Partners by 43.3% during the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after purchasing an additional 872,060 shares in the last quarter. Finally, Norges Bank bought a new position in Coca-Cola Europacific Partners during the fourth quarter valued at $190,999,000. 31.35% of the stock is currently owned by institutional investors.

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.