Short Interest in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Rises By 46.3%

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 4,360,000 shares, an increase of 46.3% from the March 15th total of 2,980,000 shares. Based on an average trading volume of 2,590,000 shares, the short-interest ratio is currently 1.7 days. Approximately 2.0% of the shares of the company are short sold.

Institutional Trading of Coca-Cola Europacific Partners

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its position in Coca-Cola Europacific Partners by 26.3% during the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock valued at $777,312,000 after purchasing an additional 2,105,019 shares in the last quarter. FMR LLC raised its holdings in shares of Coca-Cola Europacific Partners by 3.3% during the 4th quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after buying an additional 229,679 shares in the last quarter. Amundi lifted its position in Coca-Cola Europacific Partners by 2.9% in the 4th quarter. Amundi now owns 3,078,851 shares of the company's stock worth $233,716,000 after buying an additional 87,675 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock worth $221,835,000 after buying an additional 872,060 shares in the last quarter. Finally, Norges Bank bought a new position in Coca-Cola Europacific Partners during the fourth quarter valued at approximately $190,999,000. 31.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCEP shares. Kepler Capital Markets cut Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. Evercore ISI upped their price target on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $99.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $87.13.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock traded down $2.16 during mid-day trading on Wednesday, hitting $88.55. 1,425,513 shares of the company traded hands, compared to its average volume of 1,699,855. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. Coca-Cola Europacific Partners has a one year low of $68.45 and a one year high of $91.29. The stock has a market cap of $40.82 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 4.89 and a beta of 0.73. The stock has a fifty day moving average price of $85.71 and a 200-day moving average price of $80.25.

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.