Short Interest in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Rises By 10.8%

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 3,800,000 shares, an increase of 10.8% from the May 31st total of 3,430,000 shares. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 3.0 days. Approximately 1.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. StockNews.com cut shares of Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research report on Sunday, May 19th. Barclays lifted their target price on shares of Coca-Cola Europacific Partners from $78.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Argus lifted their target price on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.44.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock traded up $0.85 on Wednesday, reaching $73.59. 805,964 shares of the stock were exchanged, compared to its average volume of 1,427,815. 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 twelve month low of $56.28 and a twelve month high of $76.44. The firm has a fifty day moving average price of $73.39 and a two-hundred day moving average price of $70.05.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, May 23rd. Shareholders of record on Friday, May 10th were given a dividend of $0.79 per share. This represents a yield of 5.6%. The ex-dividend date was Thursday, May 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Waverly Advisors LLC increased its holdings in shares of Coca-Cola Europacific Partners by 1.0% during the 1st quarter. Waverly Advisors LLC now owns 14,856 shares of the company’s stock worth $1,039,000 after purchasing an additional 151 shares during the period. NBC Securities Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 12.9% during the 4th quarter. NBC Securities Inc. now owns 1,326 shares of the company’s stock worth $88,000 after purchasing an additional 152 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Coca-Cola Europacific Partners by 24.1% during the 4th quarter. Global Retirement Partners LLC now owns 799 shares of the company’s stock worth $54,000 after purchasing an additional 155 shares during the period. New York Life Investment Management LLC increased its holdings in shares of Coca-Cola Europacific Partners by 4.0% during the 4th quarter. New York Life Investment Management LLC now owns 4,096 shares of the company’s stock worth $273,000 after purchasing an additional 158 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in shares of Coca-Cola Europacific Partners by 2.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,945 shares of the company’s stock worth $597,000 after purchasing an additional 230 shares during the period. Institutional investors own 31.35% of the company’s stock.

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.