Insider Selling: Coca-Cola Enterprises VP Sells 9,000 Shares of Stock (CCE)
Coca-Cola Enterprises (NYSE:CCE) VP Pamela O. Kimmet unloaded 9,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $47.00, for a total value of $423,000.00. Following the sale, the vice president now directly owns 39,561 shares in the company, valued at approximately $1,859,367. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Coca-Cola Enterprises (NYSE:CCE) traded up 1.21% during mid-day trading on Monday, hitting $47.52. 2,332,873 shares of the company’s stock traded hands. Coca-Cola Enterprises has a one year low of $33.81 and a one year high of $48.04. The stock has a 50-day moving average of $46.17 and a 200-day moving average of $44.40. The company has a market cap of $11.948 billion and a P/E ratio of 17.38. Coca-Cola Enterprises also saw a large decline in short interest in April. As of April 30th, there was short interest totalling 1,917,907 shares, a decline of 50.4% from the April 15th total of 3,863,819 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,054,278 shares, the short-interest ratio is presently 0.6 days.
Coca-Cola Enterprises (NYSE:CCE) last released its earnings data on Thursday, April 24th. The company reported $0.44 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.44. The company had revenue of $1.87 million for the quarter, compared to the consensus estimate of $1.93 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts expect that Coca-Cola Enterprises will post $2.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, June 4th.
CCE has been the subject of a number of recent research reports. Analysts at Nomura downgraded shares of Coca-Cola Enterprises from a “neutral” rating to a “reduce” rating in a research note on Tuesday, April 29th. They now have a $41.00 price target on the stock, down previously from $44.50. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Coca-Cola Enterprises in a research note on Friday, April 25th. They now have a $49.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Coca-Cola Enterprises from $47.00 to $50.00 in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $46.47.
Coca-Cola Enterprises, Inc (NYSE:CCE) markets, produces, and distributes nonalcoholic beverages.
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