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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 3,600,000 shares, an increase of 17.3% from the November 30th total of 3,070,000 shares. Approximately 1.8% of the company's stock are short sold. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is presently 2.6 days.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in Coca-Cola Europacific Partners by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,757,976 shares of the company's stock valued at $217,191,000 after buying an additional 32,776 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Coca-Cola Europacific Partners by 307.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company's stock valued at $191,984,000 after acquiring an additional 1,839,321 shares during the period. Geode Capital Management LLC increased its stake in shares of Coca-Cola Europacific Partners by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company's stock valued at $160,138,000 after purchasing an additional 58,247 shares in the last quarter. Samlyn Capital LLC raised its holdings in Coca-Cola Europacific Partners by 23.2% in the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company's stock worth $135,155,000 after purchasing an additional 349,466 shares during the period. Finally, Millennium Management LLC increased its position in shares of Coca-Cola Europacific Partners by 7.6% in the second quarter. Millennium Management LLC now owns 1,636,023 shares of the company's stock valued at $119,217,000 after buying an additional 115,604 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock traded up $0.58 during midday trading on Tuesday, hitting $76.81. 1,455,210 shares of the company were exchanged, compared to its average volume of 1,408,279. Coca-Cola Europacific Partners has a fifty-two week low of $64.25 and a fifty-two week high of $82.32. The firm has a market capitalization of $35.41 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 3.85 and a beta of 0.90. The business has a fifty day simple moving average of $77.15 and a two-hundred day simple moving average of $76.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85.

Coca-Cola Europacific Partners Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a dividend of $1.34 per share. This is a boost from Coca-Cola Europacific Partners's previous semi-annual dividend of $0.79. The ex-dividend date was Friday, November 15th. This represents a dividend yield of 2.6%. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is presently 35.27%.

Wall Street Analyst Weigh In

CCEP has been the subject of a number of recent analyst reports. Sanford C. Bernstein started coverage on shares of Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They issued a "market perform" rating and a $82.00 target price for the company. BNP Paribas downgraded shares of 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 note on Tuesday, September 10th. Barclays upped their target price 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. Evercore ISI lifted their price target on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, Citigroup raised Coca-Cola Europacific Partners to a "strong-buy" rating in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $84.44.

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.

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