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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,960,000 shares, an increase of 10.6% from the January 15th total of 3,580,000 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,510,000 shares, the short-interest ratio is currently 2.6 days.

Institutional Trading of Coca-Cola Europacific Partners

A number of hedge funds have recently modified their holdings of CCEP. Norges Bank acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at approximately $190,999,000. Invesco Ltd. boosted its stake in shares of Coca-Cola Europacific Partners by 26.3% during the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after buying an additional 2,105,019 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Coca-Cola Europacific Partners by 307.3% during the 3rd 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 acquiring an additional 1,839,321 shares in the last quarter. Barclays PLC increased its stake in shares of Coca-Cola Europacific Partners by 236.4% in the fourth quarter. Barclays PLC now owns 1,804,855 shares of the company’s stock worth $138,631,000 after acquiring an additional 1,268,401 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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 worth $221,835,000 after acquiring an additional 872,060 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Up 2.6 %

Shares of NASDAQ:CCEP traded up $2.19 during mid-day trading on Monday, hitting $84.90. The stock had a trading volume of 2,466,593 shares, compared to its average volume of 1,553,985. The company’s 50 day moving average is $77.54 and its 200-day moving average is $77.72. Coca-Cola Europacific Partners has a 12-month low of $65.94 and a 12-month high of $85.61. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCEP. JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $82.00 in a report on Wednesday, November 27th. Morgan Stanley raised Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Sanford C. Bernstein assumed coverage on shares of Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 price target for the company. Barclays dropped their target price on shares of Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Evercore ISI raised their target price on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Four investment 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.11.

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.