TD Asset Management Inc. cut its stake in Coca-Cola European Partners PLC (NYSE:CCE) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825,502 shares of the company’s stock after selling 15,883 shares during the period. TD Asset Management Inc. owned approximately 0.38% of Coca-Cola European Partners worth $83,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. Signaturefd LLC grew its position in Coca-Cola European Partners by 81.4% in the second quarter. Signaturefd LLC now owns 4,570 shares of the company’s stock worth $186,000 after acquiring an additional 2,051 shares during the period. Wells Fargo & Company MN grew its position in Coca-Cola European Partners by 24.3% in the second quarter. Wells Fargo & Company MN now owns 3,572,178 shares of the company’s stock worth $145,174,000 after acquiring an additional 698,437 shares during the period. Cadence Capital Management LLC purchased a new position in Coca-Cola European Partners in the second quarter worth approximately $1,655,000. Manning & Napier Group LLC grew its position in Coca-Cola European Partners by 3.3% in the third quarter. Manning & Napier Group LLC now owns 58,756 shares of the company’s stock worth $2,671,000 after acquiring an additional 1,876 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. purchased a new position in Coca-Cola European Partners in the second quarter worth approximately $242,000. Institutional investors and hedge funds own 31.36% of the company’s stock.
NYSE:CCE opened at $46.18 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.81 and a current ratio of 1.01. Coca-Cola European Partners PLC has a 52 week low of $36.17 and a 52 week high of $46.26. The firm has a market cap of $22.20 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.07 and a beta of 0.60.
Coca-Cola European Partners (NYSE:CCE) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Coca-Cola European Partners had a return on equity of 16.36% and a net margin of 6.26%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that Coca-Cola European Partners PLC will post 2.62 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 8th. Coca-Cola European Partners’s dividend payout ratio (DPR) is 23.43%.
Several research analysts recently weighed in on CCE shares. Macquarie set a $52.00 price objective on Coca-Cola European Partners and gave the stock a “buy” rating in a research report on Friday, September 14th. Bank of America increased their price objective on Coca-Cola European Partners from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, September 13th. Zacks Investment Research upgraded Coca-Cola European Partners from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, October 16th. ValuEngine upgraded Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $46.00 price objective on shares of Coca-Cola European Partners in a research report on Wednesday, August 15th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Coca-Cola European Partners has a consensus rating of “Buy” and an average price target of $47.29.
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Coca-Cola European Partners Profile
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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