Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Short Interest Update

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) was the recipient of a significant increase in short interest during 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. Approximately 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

A number of large investors have recently added to or reduced their stakes in the stock. Lombard Odier Asset Management Europe Ltd raised its holdings in Coca-Cola Europacific Partners by 103.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 92,770 shares of the company’s stock valued at $6,760,000 after acquiring an additional 47,165 shares in the last quarter. Cetera Advisors LLC raised its stake in Coca-Cola Europacific Partners by 234.1% in the first quarter. Cetera Advisors LLC now owns 10,325 shares of the company’s stock valued at $722,000 after purchasing an additional 7,235 shares in the last quarter. Diversified Trust Co bought a new stake in Coca-Cola Europacific Partners during the third quarter worth about $2,513,000. Manning & Napier Advisors LLC acquired a new stake in Coca-Cola Europacific Partners during the second quarter worth about $3,068,000. Finally, Marshall Wace LLP bought a new position in Coca-Cola Europacific Partners in the 2nd quarter valued at about $1,846,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock traded down $0.05 during midday trading on Friday, hitting $77.58. The company’s stock had a trading volume of 1,357,527 shares, compared to its average volume of 1,263,476. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. Coca-Cola Europacific Partners has a 1-year low of $59.31 and a 1-year high of $82.32. The company has a 50-day moving average price of $77.52 and a two-hundred day moving average price of $76.22.

Coca-Cola Europacific Partners Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CCEP. Barclays raised their price objective on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut shares of 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, BNP Paribas cut shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target on the stock. in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.78.

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.