Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Short Interest Down 7.2% in October

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,320,000 shares, a decline of 7.2% from the September 30th total of 2,500,000 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 1,430,000 shares, the short-interest ratio is currently 1.6 days.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in Coca-Cola Europacific Partners by 79.0% in the first quarter. BNP Paribas Financial Markets now owns 477,729 shares of the company’s stock valued at $33,417,000 after acquiring an additional 210,780 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Coca-Cola Europacific Partners by 436.7% during the first quarter. Bessemer Group Inc. now owns 19,514 shares of the company’s stock worth $1,365,000 after buying an additional 15,878 shares during the last quarter. Lombard Odier Asset Management Europe Ltd increased its holdings in shares of Coca-Cola Europacific Partners by 103.4% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 92,770 shares of the company’s stock worth $6,760,000 after buying an additional 47,165 shares in the last quarter. Dynasty Wealth Management LLC bought a new position in shares of Coca-Cola Europacific Partners in the 1st quarter valued at $579,000. Finally, Cetera Advisors LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 234.1% during the 1st quarter. Cetera Advisors LLC now owns 10,325 shares of the company’s stock valued at $722,000 after acquiring an additional 7,235 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CCEP shares. Barclays dropped their price target on Coca-Cola Europacific Partners from $85.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America upped their price target on shares of Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a “buy” rating in a research note 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 for the company. in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.88.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock traded down $0.40 on Thursday, reaching $76.00. 1,313,692 shares of the stock were exchanged, compared to its average volume of 1,398,148. The firm’s 50 day moving average is $78.99 and its 200-day moving average is $75.24. The firm has a market cap of $34.72 billion, a PE ratio of 16.29, a P/E/G ratio of 3.54 and a beta of 0.90. 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 one year low of $57.48 and a one year high of $82.32.

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.