Coca-Cola European Partners plc (CCE) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Coca-Cola European Partners plc (NYSE:CCE) from a hold rating to a buy rating in a research report released on Monday. The brokerage currently has $46.00 price objective on the stock.

According to Zacks, “Coca-Cola European Partners PLC is a consumer packaged goods company. It is engaged in producing, distributing and marketing nonalcoholic ready-to-drink beverages. It operates primarily in Andorra, Belgium, continental France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. Coca-Cola European Partners PLC, formerly known as Coca-Cola Enterprises Inc., is headquartered in Uxbridge, United Kingdom. “

Several other brokerages have also recently issued reports on CCE. Jefferies Group LLC reaffirmed a hold rating and issued a $42.00 target price on shares of Coca-Cola European Partners plc in a report on Wednesday, June 14th. Barclays PLC reaffirmed a buy rating and issued a $46.00 target price on shares of Coca-Cola European Partners plc in a report on Friday, July 21st. Deutsche Bank AG cut shares of Coca-Cola European Partners plc from a buy rating to a hold rating in a report on Thursday, July 20th. Macquarie started coverage on shares of Coca-Cola European Partners plc in a report on Thursday, September 14th. They issued an outperform rating and a $46.00 target price for the company. Finally, BidaskClub cut shares of Coca-Cola European Partners plc from a buy rating to a hold rating in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Coca-Cola European Partners plc presently has an average rating of Hold and a consensus price target of $45.33.

Shares of Coca-Cola European Partners plc (NYSE:CCE) opened at 41.10 on Monday. The firm has a 50-day moving average of $42.04 and a 200-day moving average of $40.87. Coca-Cola European Partners plc has a 12 month low of $30.55 and a 12 month high of $44.75. The company has a market capitalization of $19.90 billion, a P/E ratio of 21.34 and a beta of 0.94.

Coca-Cola European Partners plc (NYSE:CCE) last issued its earnings results on Thursday, August 10th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Coca-Cola European Partners plc had a net margin of 6.93% and a return on equity of 15.52%. During the same period in the previous year, the company earned $0.56 earnings per share. On average, equities analysts predict that Coca-Cola European Partners plc will post $2.50 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This is a positive change from Coca-Cola European Partners plc’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. Coca-Cola European Partners plc’s payout ratio is currently 56.50%.

Several hedge funds have recently made changes to their positions in the company. Capital World Investors grew its stake in shares of Coca-Cola European Partners plc by 6.8% in the second quarter. Capital World Investors now owns 22,083,787 shares of the company’s stock worth $898,148,000 after acquiring an additional 1,398,929 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Coca-Cola European Partners plc by 13.7% in the second quarter. Artisan Partners Limited Partnership now owns 16,633,760 shares of the company’s stock worth $676,495,000 after acquiring an additional 2,006,947 shares during the period. Boston Partners grew its stake in shares of Coca-Cola European Partners plc by 1.2% in the second quarter. Boston Partners now owns 10,511,025 shares of the company’s stock worth $427,483,000 after acquiring an additional 125,412 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Coca-Cola European Partners plc by 95.5% in the second quarter. First Eagle Investment Management LLC now owns 5,561,886 shares of the company’s stock worth $226,202,000 after acquiring an additional 2,716,394 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Coca-Cola European Partners plc by 9.2% in the first quarter. Bank of America Corp DE now owns 5,210,956 shares of the company’s stock worth $196,401,000 after acquiring an additional 437,276 shares during the period. Hedge funds and other institutional investors own 29.63% of the company’s stock.

Coca-Cola European Partners plc Company Profile

Coca-Cola Enterprises, Inc (CCE) markets, produces and distributes nonalcoholic beverages. The Company serves customers across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. The Company’s segments include Europe and Corporate. CCE is The Coca-Cola Company’s strategic bottling partner in Western Europe.

Analyst Recommendations for Coca-Cola European Partners plc (NYSE:CCE)

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