Coca-Cola European Partners (CCE) Shares Gap Down on Analyst Downgrade

Shares of Coca-Cola European Partners PLC (NYSE:CCE) gapped down before the market opened on Thursday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $45.43, but opened at $44.29. Coca-Cola European Partners shares last traded at $43.53, with a volume of 2241191 shares.

A number of other research firms have also weighed in on CCE. Susquehanna Bancshares raised shares of Coca-Cola European Partners from a “negative” rating to a “neutral” rating in a report on Friday, September 14th. UBS Group raised shares of Coca-Cola European Partners to a “neutral” rating in a report on Friday, September 14th. Macquarie set a $52.00 target price on shares of Coca-Cola European Partners and gave the stock a “buy” rating in a report on Friday, September 14th. Bank of America upped their target price on shares of Coca-Cola European Partners from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, September 13th. Finally, Wells Fargo & Co raised shares of Coca-Cola European Partners from a “market perform” rating to an “outperform” rating in a report on Friday, September 14th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $47.29.

Large investors have recently modified their holdings of the company. Mount Yale Investment Advisors LLC bought a new position in shares of Coca-Cola European Partners in the 1st quarter worth $108,000. Exane Derivatives increased its holdings in shares of Coca-Cola European Partners by 84,700.0% in the 3rd quarter. Exane Derivatives now owns 2,544 shares of the company’s stock worth $115,000 after buying an additional 2,541 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of Coca-Cola European Partners in the 2nd quarter worth $180,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Coca-Cola European Partners by 208.1% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 4,030 shares of the company’s stock worth $183,000 after buying an additional 2,722 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Coca-Cola European Partners by 81.4% in the 2nd quarter. Signaturefd LLC now owns 4,570 shares of the company’s stock worth $186,000 after buying an additional 2,051 shares during the last quarter. 31.34% of the stock is currently owned by hedge funds and other institutional investors.



The firm has a market capitalization of $21.50 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 2.16 and a beta of 0.67. The company has a current ratio of 1.02, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77.

Coca-Cola European Partners (NYSE:CCE) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. Coca-Cola European Partners had a net margin of 5.97% and a return on equity of 15.85%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. As a group, equities analysts anticipate that Coca-Cola European Partners PLC will post 2.63 earnings per share for the current year.

Coca-Cola European Partners Company Profile (NYSE:CCE)

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.

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