Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Short Interest Down 7.2% in October

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 2,320,000 shares, a drop of 7.2% from the September 30th total of 2,500,000 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,430,000 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Trading of Coca-Cola Europacific Partners

A number of hedge funds and other institutional investors have recently modified their holdings of CCEP. Crewe Advisors LLC acquired a new stake in Coca-Cola Europacific Partners in the 1st quarter valued at about $36,000. New Covenant Trust Company N.A. acquired a new stake in Coca-Cola Europacific Partners during the first quarter valued at approximately $36,000. New Millennium Group LLC bought a new stake in Coca-Cola Europacific Partners during the second quarter worth approximately $37,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 38.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after buying an additional 139 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Coca-Cola Europacific Partners by 142.0% during the 2nd quarter. Mather Group LLC. now owns 668 shares of the company’s stock valued at $47,000 after acquiring an additional 392 shares during the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock traded down $0.12 during trading hours on Friday, hitting $75.88. 349,259 shares of the company traded hands, compared to its average volume of 1,393,154. Coca-Cola Europacific Partners has a 1-year low of $58.94 and a 1-year high of $82.32. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. The firm’s 50-day simple moving average is $78.94 and its two-hundred day simple moving average is $75.25.

Analysts Set New Price Targets

CCEP has been the topic of several research reports. BNP Paribas lowered shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a research note on Tuesday, September 10th. Barclays dropped their price target on Coca-Cola Europacific Partners from $85.00 to $84.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America increased their target price on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $80.88.

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.