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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 5,260,000 shares, a growth of 5.6% from the March 15th total of 4,980,000 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is presently 3.4 days.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. AustralianSuper Pty Ltd bought a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at $1,467,000. Pacer Advisors Inc. raised its position in shares of Coca-Cola Europacific Partners by 1,120.3% during the 4th quarter. Pacer Advisors Inc. now owns 23,332 shares of the company's stock valued at $1,557,000 after acquiring an additional 21,420 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Coca-Cola Europacific Partners during the 3rd quarter valued at $685,000. Korea Investment CORP raised its position in shares of Coca-Cola Europacific Partners by 4.1% during the 3rd quarter. Korea Investment CORP now owns 252,644 shares of the company's stock valued at $15,843,000 after acquiring an additional 9,893 shares during the last quarter. Finally, Silchester International Investors LLP bought a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at $3,678,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CCEP shares. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, February 26th. Argus boosted their price objective on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. BNP Paribas raised shares of Coca-Cola Europacific Partners from a "neutral" rating to an "outperform" rating and set a $79.00 target price on the stock in a research report on Friday, January 12th. Barclays upped their target price on shares of Coca-Cola Europacific Partners from $74.00 to $75.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. Finally, StockNews.com upgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a research note on Monday, February 26th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.02.

Coca-Cola Europacific Partners Stock Down 0.9 %

CCEP traded down $0.63 during trading hours on Tuesday, hitting $66.45. The company's stock had a trading volume of 1,253,839 shares, compared to its average volume of 1,534,613. The company has a 50-day simple moving average of $69.33 and a 200 day simple moving average of $65.18. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 1.27. Coca-Cola Europacific Partners has a fifty-two week low of $56.28 and a fifty-two week high of $72.67.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported $1.85 EPS for the quarter, hitting analysts' consensus estimates of $1.85. As a group, equities research analysts expect that Coca-Cola Europacific Partners will post 4.18 earnings per share for the current year.

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.

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