Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Short Interest Up 44.2% in May

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 4,960,000 shares, a growth of 44.2% from the April 30th total of 3,440,000 shares. Currently, 2.3% of the company's stock are sold short. Based on an average trading volume of 2,650,000 shares, the short-interest ratio is presently 1.9 days.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of hedge funds and other institutional investors have recently modified their holdings of CCEP. Private Trust Co. NA boosted its position in Coca-Cola Europacific Partners by 6.0% in the first quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock worth $176,000 after purchasing an additional 115 shares during the last quarter. BKM Wealth Management LLC raised its stake in shares of Coca-Cola Europacific Partners by 1.6% during the 1st quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock worth $682,000 after purchasing an additional 124 shares during the period. Cibc World Markets Corp raised its stake in shares of Coca-Cola Europacific Partners by 1.4% during the 4th quarter. Cibc World Markets Corp now owns 10,200 shares of the company's stock worth $783,000 after purchasing an additional 139 shares during the period. TIAA Trust National Association boosted its holdings in shares of Coca-Cola Europacific Partners by 4.4% in the 4th quarter. TIAA Trust National Association now owns 3,420 shares of the company's stock worth $263,000 after buying an additional 145 shares during the last quarter. Finally, Assetmark Inc. grew its position in Coca-Cola Europacific Partners by 107.3% during the first quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Down 0.8%

NASDAQ:CCEP traded down $0.72 during trading hours on Tuesday, hitting $90.84. 1,806,506 shares of the company traded hands, compared to its average volume of 1,776,894. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market cap of $41.87 billion, a PE ratio of 18.69, a PEG ratio of 4.89 and a beta of 0.77. The firm's 50-day simple moving average is $88.10 and its 200-day simple moving average is $82.70. Coca-Cola Europacific Partners has a one year low of $71.49 and a one year high of $92.73.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were given a dividend of $0.8993 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners's dividend payout ratio is currently 16.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CCEP shares. Barclays upped their target price on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. Evercore ISI raised 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 note on Tuesday, February 18th. Finally, UBS Group lifted their price objective on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.50.

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.