Bank of America Corp DE reduced its position in shares of Coca-Cola European Partners PLC (NYSE:CCE) by 17.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,844,414 shares of the company’s stock after selling 1,008,468 shares during the period. Bank of America Corp DE owned 1.00% of Coca-Cola European Partners worth $196,878,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Wells Fargo & Company MN lifted its stake in Coca-Cola European Partners by 199.0% in the first quarter. Wells Fargo & Company MN now owns 2,873,741 shares of the company’s stock valued at $119,721,000 after buying an additional 1,912,524 shares in the last quarter. Prudential Financial Inc. lifted its stake in Coca-Cola European Partners by 44.2% in the first quarter. Prudential Financial Inc. now owns 29,055 shares of the company’s stock valued at $1,210,000 after buying an additional 8,906 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Coca-Cola European Partners in the first quarter valued at approximately $412,000. ETRADE Capital Management LLC lifted its stake in Coca-Cola European Partners by 39.8% in the first quarter. ETRADE Capital Management LLC now owns 8,207 shares of the company’s stock valued at $342,000 after buying an additional 2,337 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Coca-Cola European Partners by 35.5% in the first quarter. Neuberger Berman Group LLC now owns 31,270 shares of the company’s stock valued at $1,326,000 after buying an additional 8,187 shares in the last quarter. Institutional investors own 31.16% of the company’s stock.
NYSE CCE opened at $45.35 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.80 and a current ratio of 1.02. Coca-Cola European Partners PLC has a 12-month low of $36.17 and a 12-month high of $45.46. The company has a market capitalization of $20.96 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.29 and a beta of 0.70.
Coca-Cola European Partners (NYSE:CCE) last posted its quarterly earnings data on Thursday, August 9th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Coca-Cola European Partners had a net margin of 5.97% and a return on equity of 15.85%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the company earned $0.67 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. analysts predict that Coca-Cola European Partners PLC will post 2.62 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Wednesday, August 22nd were issued a $0.3008 dividend. The ex-dividend date was Tuesday, August 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.65%. Coca-Cola European Partners’s dividend payout ratio (DPR) is presently 23.43%.
A number of brokerages have weighed in on CCE. Zacks Investment Research raised shares of Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Macquarie upgraded shares of Coca-Cola European Partners from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $43.00 to $48.00 in a report on Tuesday, September 4th. ValuEngine downgraded shares of Coca-Cola European Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Wells Fargo & Co lifted their price objective on shares of Coca-Cola European Partners from $39.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, August 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $46.00 price objective on shares of Coca-Cola European Partners in a report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Coca-Cola European Partners presently has a consensus rating of “Hold” and an average price target of $42.83.
Coca-Cola European Partners Profile
Coca-Cola European Partners plc, together with its subsidiaries, produces, distributes, and markets a range of nonalcoholic ready-to-drink beverages. The company offers water, juice, isotonic, sparkling flavor and energy drink, and other products. It provides its products primarily under the Coca-Cola, Fanta, and Monster brands, as well as Coca-Cola Zero Sugar, Vio, Royal Bliss, Honest, and GLACÉAU Smartwater brands.
Further Reading: NASDAQ
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