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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 4,360,000 shares, a growth of 46.3% from the March 15th total of 2,980,000 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 2,590,000 shares, the short-interest ratio is presently 1.7 days.

Coca-Cola Europacific Partners Trading Up 1.6 %

NASDAQ CCEP opened at $89.31 on Friday. The company’s 50-day simple moving average is $85.26 and its two-hundred day simple moving average is $79.98. Coca-Cola Europacific Partners has a one year low of $66.21 and a one year high of $91.29. The company has a market capitalization of $41.17 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 4.89 and a beta of 0.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81.

Analyst Ratings Changes

Several research analysts have commented on CCEP shares. 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 increased 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 report on Tuesday, February 18th. Finally, Barclays upped their target price on Coca-Cola Europacific Partners from $99.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.13.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Coca-Cola Europacific Partners in the 4th quarter worth $190,999,000. Invesco Ltd. lifted its position in shares of 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 buying an additional 2,105,019 shares during the last quarter. Barclays PLC boosted its stake in Coca-Cola Europacific Partners by 236.4% in the fourth quarter. Barclays PLC now owns 1,804,855 shares of the company’s stock valued at $138,631,000 after acquiring an additional 1,268,401 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $221,835,000 after purchasing an additional 872,060 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Coca-Cola Europacific Partners by 842.4% during the 4th quarter. Jane Street Group LLC now owns 714,988 shares of the company’s stock worth $54,918,000 after buying an additional 639,119 shares during the last quarter. Institutional investors own 31.35% of the company’s stock.

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.