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 large increase in short interest during the month of May. As of May 15th, there was short interest totalling 4,960,000 shares, an increase of 44.2% from the April 30th total of 3,440,000 shares. Currently, 2.3% of the company's shares are short sold. Based on an average trading volume of 2,650,000 shares, the short-interest ratio is presently 1.9 days.

Coca-Cola Europacific Partners Stock Up 1.0%

CCEP stock traded up $0.90 during trading on Thursday, hitting $91.87. 1,091,124 shares of the company's stock traded hands, compared to its average volume of 1,780,007. The firm has a market capitalization of $42.35 billion, a P/E ratio of 18.90, a PEG ratio of 4.89 and a beta of 0.77. The business has a fifty day simple moving average of $88.28 and a two-hundred day simple moving average of $82.81. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. Coca-Cola Europacific Partners has a 1 year low of $71.49 and a 1 year high of $95.65.

Coca-Cola Europacific Partners Cuts Dividend

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

Institutional Trading of Coca-Cola Europacific Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its holdings in Coca-Cola Europacific Partners by 28.1% in the 4th quarter. LPL Financial LLC now owns 117,700 shares of the company's stock valued at $9,041,000 after purchasing an additional 25,840 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Coca-Cola Europacific Partners by 43.3% in the 4th 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. New Age Alpha Advisors LLC acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter worth $446,000. Amundi raised its stake in Coca-Cola Europacific Partners by 2.9% during the 4th quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after acquiring an additional 87,675 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new position in Coca-Cola Europacific Partners in the fourth quarter valued at $12,075,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on CCEP shares. Kepler Capital Markets downgraded 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 stock an "outperform" rating in a research note on Tuesday, February 18th. Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, UBS Group raised their price objective on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.50.

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.