Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Short Interest Down 12.6% in July

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,880,000 shares, a decrease of 12.6% from the July 15th total of 4,440,000 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CCEP. GAMMA Investing LLC purchased a new stake in Coca-Cola Europacific Partners in the fourth quarter worth $28,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter worth about $33,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Coca-Cola Europacific Partners by 220.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the company’s stock worth $34,000 after acquiring an additional 352 shares in the last quarter. Crewe Advisors LLC purchased a new position in Coca-Cola Europacific Partners during the 1st quarter valued at about $36,000. Finally, New Covenant Trust Company N.A. bought a new stake in Coca-Cola Europacific Partners during the first quarter worth about $36,000. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

CCEP stock opened at $76.42 on Monday. The firm has a 50-day moving average of $73.89 and a 200 day moving average of $71.73. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72. The company has a market cap of $34.91 billion, a P/E ratio of 16.51, a PEG ratio of 3.45 and a beta of 0.89. Coca-Cola Europacific Partners has a 1 year low of $56.28 and a 1 year high of $77.00.

Analyst Ratings Changes

Several brokerages recently commented on CCEP. Barclays lifted their target price on shares of Coca-Cola Europacific Partners from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Bank of America upped their price objective on shares of Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com cut Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research note on Sunday, May 19th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.11.

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.