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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a significant decline in short interest in July. As of July 15th, there was short interest totalling 4,440,000 shares, a decline of 7.3% from the June 30th total of 4,790,000 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 1,240,000 shares, the short-interest ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CCEP shares. Bank of America lifted their target price on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com downgraded Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research report on Sunday, May 19th. Finally, Barclays lowered their price objective on Coca-Cola Europacific Partners from $84.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and an average price target of $76.80.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock traded down $0.57 during trading hours on Tuesday, hitting $73.23. The stock had a trading volume of 1,232,405 shares, compared to its average volume of 1,387,467. Coca-Cola Europacific Partners has a one year low of $56.28 and a one year high of $76.44. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27. The stock’s 50-day moving average price is $73.60 and its two-hundred day moving average price is $71.12.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Several large investors have recently made changes to their positions in CCEP. GAMMA Investing LLC bought a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth about $28,000. Voisard Asset Management Group Inc. bought a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth about $33,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 220.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the company’s stock worth $34,000 after purchasing an additional 352 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Coca-Cola Europacific Partners in the first quarter worth about $36,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Coca-Cola Europacific Partners in the first quarter worth about $36,000. 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.