Coca-Cola European Partners PLC (NYSE:CCEP) Sees Large Decline in Short Interest

Coca-Cola European Partners PLC (NYSE:CCEP) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 2,049,800 shares, a decline of 37.3% from the June 30th total of 3,270,900 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 1.8 days.

NYSE:CCEP traded down $0.42 during trading hours on Wednesday, hitting $53.94. 46,246 shares of the company were exchanged, compared to its average volume of 1,177,035. The stock has a market cap of $26.33 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45. Coca-Cola European Partners has a 52-week low of $41.67 and a 52-week high of $58.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.79 and a quick ratio of 0.61. The company’s 50 day moving average is $56.54.

A number of large investors have recently added to or reduced their stakes in CCEP. Assetmark Inc. purchased a new stake in Coca-Cola European Partners during the second quarter worth $81,000. Institutional & Family Asset Management LLC acquired a new position in Coca-Cola European Partners during the second quarter worth $89,000. Massmutual Trust Co. FSB ADV acquired a new position in Coca-Cola European Partners during the second quarter worth $48,000. Putnam Investments LLC acquired a new position in Coca-Cola European Partners during the second quarter worth $14,072,000. Finally, Mackenzie Financial Corp acquired a new position in Coca-Cola European Partners during the second quarter worth $1,142,000. 30.47% of the stock is currently owned by institutional investors.



Several research analysts recently commented on the stock. ABN Amro upgraded shares of Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Evercore ISI reiterated a “buy” rating and set a $60.00 price objective on shares of Coca-Cola European Partners in a research note on Thursday, August 8th. Zacks Investment Research lowered shares of Coca-Cola European Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Barclays set a $60.00 price objective on shares of Coca-Cola European Partners and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, ValuEngine lowered shares of Coca-Cola European Partners from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Coca-Cola European Partners presently has a consensus rating of “Hold” and a consensus price target of $54.00.

About Coca-Cola European Partners

Coca-Cola European Partners plc, together with its subsidiaries, produces, markets, distributes, and sells a range of nonalcoholic ready-to-drink beverages. The company offers sparkling flavors, energy drinks, juices, isotonics, and other drinks, as well as water. It provides its products primarily under the Coca-Cola, Fanta, and Sprite brands, as well as Coca-Cola Zero Sugar, Mezzo Mix, Schweppes, Royal Bliss, Fïnle, Monster, GLACÉAU Smartwater, Vio, Chaudfontaine, Fuze Tea, Honest Coffee, Oasis, Capri-Sun, Honest, and Tropico brands.

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