Lazard Asset Management LLC lessened its holdings in Coca-Cola European Partners plc (NYSE:CCE) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 334,045 shares of the company’s stock after selling 23,012 shares during the quarter. Lazard Asset Management LLC owned 0.07% of Coca-Cola European Partners worth $13,311,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in CCE. Raymond James Financial Services Advisors Inc. purchased a new stake in Coca-Cola European Partners in the 2nd quarter valued at approximately $238,000. BB&T Securities LLC purchased a new stake in shares of Coca-Cola European Partners during the 3rd quarter worth approximately $239,000. LMR Partners LLP purchased a new stake in shares of Coca-Cola European Partners during the 4th quarter worth approximately $241,000. Rothschild Investment Corp IL purchased a new stake in shares of Coca-Cola European Partners during the 4th quarter worth approximately $245,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Coca-Cola European Partners during the 3rd quarter worth approximately $256,000. 30.87% of the stock is currently owned by institutional investors.
Coca-Cola European Partners plc (NYSE CCE) traded down $0.84 during mid-day trading on Wednesday, reaching $41.21. The company had a trading volume of 1,082,006 shares, compared to its average volume of 1,703,050. Coca-Cola European Partners plc has a 12-month low of $35.46 and a 12-month high of $44.75. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.76. The stock has a market cap of $20,237.46, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.93 and a beta of 0.84.
Coca-Cola European Partners (NYSE:CCE) last posted its earnings results on Thursday, February 15th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Coca-Cola European Partners had a return on equity of 16.37% and a net margin of 5.91%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the company earned $0.43 EPS. Coca-Cola European Partners’s revenue was up 3.3% on a year-over-year basis. analysts anticipate that Coca-Cola European Partners plc will post 2.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, February 26th. This is an increase from Coca-Cola European Partners’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 3.11%. Coca-Cola European Partners’s payout ratio is 81.53%.
Several equities research analysts have recently commented on CCE shares. Zacks Investment Research lowered Coca-Cola European Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Susquehanna Bancshares set a $33.00 price target on Coca-Cola European Partners and gave the stock a “sell” rating in a research note on Wednesday, November 29th. Deutsche Bank boosted their price target on Coca-Cola European Partners from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Macquarie lowered Coca-Cola European Partners from an “outperform” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research note on Friday, January 5th. Finally, ValuEngine raised Coca-Cola European Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $43.38.
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About Coca-Cola European Partners
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.
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