Coca-Cola European Partners (NYSE:CCEP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Coca-Cola European Partners (NYSE:CCEP) from a hold rating to a sell rating in a research note released on Friday morning, Zacks.com reports.

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. “

A number of other brokerages have also recently commented on CCEP. Liberum Capital initiated coverage on shares of Coca-Cola European Partners in a research report on Thursday, September 19th. They set a buy rating on the stock. Morgan Stanley cut shares of Coca-Cola European Partners from an overweight rating to an equal weight rating in a research report on Wednesday, June 12th. They noted that the move was a valuation call. ValuEngine cut shares of Coca-Cola European Partners from a buy rating to a hold rating in a research report on Thursday, August 1st. ABN Amro raised shares of Coca-Cola European Partners from a sell rating to a hold rating in a research report on Tuesday, August 13th. Finally, Evercore ISI reissued a buy rating and set a $60.00 price objective on shares of Coca-Cola European Partners in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $55.20.



Shares of CCEP opened at $55.93 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $27.17 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.24 and a beta of 0.44. The firm’s fifty day simple moving average is $55.40 and its two-hundred day simple moving average is $54.57. Coca-Cola European Partners has a 12 month low of $42.53 and a 12 month high of $58.35.

Several hedge funds have recently added to or reduced their stakes in CCEP. Enterprise Financial Services Corp bought a new position in shares of Coca-Cola European Partners during the 2nd quarter worth about $25,000. FTB Advisors Inc. bought a new position in shares of Coca-Cola European Partners during the 2nd quarter worth about $25,000. Zions Bancorporation N.A. bought a new position in shares of Coca-Cola European Partners during the 2nd quarter worth about $26,000. SevenBridge Financial Group LLC bought a new position in shares of Coca-Cola European Partners during the 2nd quarter worth about $26,000. Finally, Lenox Wealth Management Inc. bought a new position in shares of Coca-Cola European Partners during the 2nd quarter worth about $29,000. 29.17% of the stock is currently owned by institutional investors.

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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