Susquehanna Bancshares upgraded shares of Coca-Cola European Partners (NYSE:CCE) from a negative rating to a neutral rating in a research note released on Friday, MarketBeat.com reports.
CCE has been the subject of a number of other reports. ValuEngine downgraded Coca-Cola European Partners from a hold rating to a sell rating in a report on Wednesday, August 22nd. UBS Group raised Coca-Cola European Partners to a neutral rating in a report on Friday. Zacks Investment Research raised Coca-Cola European Partners from a sell rating to a hold rating in a report on Wednesday, May 30th. Wells Fargo & Co increased their price objective on Coca-Cola European Partners from $39.00 to $40.00 and gave the company a market perform rating in a report on Friday, August 10th. Finally, Macquarie set a $52.00 price objective on Coca-Cola European Partners and gave the company a buy rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $44.43.
Shares of CCE opened at $45.78 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.80. The company has a market capitalization of $21.71 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.37 and a beta of 0.70. Coca-Cola European Partners has a 52-week low of $36.17 and a 52-week high of $45.92.
Coca-Cola European Partners (NYSE:CCE) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. Coca-Cola European Partners had a return on equity of 15.85% and a net margin of 5.97%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 earnings per share. sell-side analysts predict that Coca-Cola European Partners will post 2.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Wednesday, August 22nd were issued a $0.3008 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Tuesday, August 21st. Coca-Cola European Partners’s payout ratio is currently 23.43%.
Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of Coca-Cola European Partners by 78.6% in the second quarter. Millennium Management LLC now owns 784,847 shares of the company’s stock valued at $31,896,000 after acquiring an additional 345,450 shares during the period. Worldquant Millennium Quantitative Strategies LLC purchased a new stake in shares of Coca-Cola European Partners during the second quarter worth approximately $358,000. Vident Investment Advisory LLC raised its stake in shares of Coca-Cola European Partners by 15.9% during the second quarter. Vident Investment Advisory LLC now owns 16,933 shares of the company’s stock worth $688,000 after purchasing an additional 2,324 shares during the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Coca-Cola European Partners during the second quarter worth approximately $284,000. Finally, Signaturefd LLC raised its stake in shares of Coca-Cola European Partners by 81.4% during the second quarter. Signaturefd LLC now owns 4,570 shares of the company’s stock worth $186,000 after purchasing an additional 2,051 shares during the last quarter. 31.16% of the stock is owned by institutional investors and hedge funds.
About Coca-Cola European Partners
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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