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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,030,000 shares, an increase of 29.5% from the October 31st total of 2,340,000 shares. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCEP. BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $82.00 in a research report on Wednesday, November 27th. Evercore ISI lifted their target price on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Barclays raised their price target on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.78.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

A number of institutional investors have recently made changes to their positions in CCEP. Whittier Trust Co. of Nevada Inc. lifted its holdings in Coca-Cola Europacific Partners by 38.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after purchasing an additional 139 shares during the last quarter. Janney Capital Management LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 4.4% during the third quarter. Janney Capital Management LLC now owns 3,417 shares of the company’s stock worth $269,000 after buying an additional 145 shares in the last quarter. Signaturefd LLC boosted its position in shares of Coca-Cola Europacific Partners by 2.6% in the second quarter. Signaturefd LLC now owns 5,735 shares of the company’s stock valued at $418,000 after acquiring an additional 147 shares during the period. CWM LLC boosted its position in shares of Coca-Cola Europacific Partners by 14.5% in the third quarter. CWM LLC now owns 1,318 shares of the company’s stock valued at $104,000 after acquiring an additional 167 shares during the period. Finally, Legacy Financial Advisors Inc. grew its stake in shares of Coca-Cola Europacific Partners by 3.8% in the second quarter. Legacy Financial Advisors Inc. now owns 4,605 shares of the company’s stock valued at $336,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP traded down $0.49 during mid-day trading on Monday, reaching $77.09. 304,141 shares of the company were exchanged, compared to its average volume of 1,387,377. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. The company’s 50-day simple moving average is $77.52 and its 200-day simple moving average is $76.22. Coca-Cola Europacific Partners has a twelve month low of $60.90 and a twelve month high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a dividend of $1.34 per share. The ex-dividend date is Friday, November 15th. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. This represents a yield of 2.6%.

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.