Korea Investment CORP lifted its stake in shares of Coca-Cola European Partners PLC (NYSE:CCE) by 73.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,424 shares of the company’s stock after buying an additional 35,800 shares during the period. Korea Investment CORP’s holdings in Coca-Cola European Partners were worth $3,431,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in CCE. Signaturefd LLC acquired a new stake in Coca-Cola European Partners in the first quarter valued at $105,000. Mount Yale Investment Advisors LLC acquired a new stake in Coca-Cola European Partners in the first quarter valued at $108,000. Cerebellum GP LLC acquired a new stake in Coca-Cola European Partners in the second quarter valued at $180,000. First Trust Advisors LP acquired a new stake in Coca-Cola European Partners in the second quarter valued at $228,000. Finally, Bayesian Capital Management LP acquired a new stake in Coca-Cola European Partners in the first quarter valued at $229,000. Institutional investors own 31.15% of the company’s stock.
CCE has been the subject of a number of recent research reports. ValuEngine upgraded Coca-Cola European Partners from a “sell” rating to a “hold” rating in a report on Friday, June 29th. Wells Fargo & Co increased their price target on Coca-Cola European Partners from $39.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Coca-Cola European Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Jefferies Financial Group reiterated a “hold” rating and set a $46.00 price target on shares of Coca-Cola European Partners in a report on Wednesday, August 15th. Finally, Macquarie upgraded Coca-Cola European Partners from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $43.00 to $48.00 in a report on Tuesday, September 4th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Coca-Cola European Partners presently has a consensus rating of “Buy” and an average price target of $44.43.
Coca-Cola European Partners stock remained flat at $$44.81 during trading hours on Friday. The company’s stock had a trading volume of 2,146,969 shares, compared to its average volume of 1,396,195. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.80 and a current ratio of 1.02. Coca-Cola European Partners PLC has a 52-week low of $36.17 and a 52-week high of $46.16. The firm has a market cap of $22.02 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.21 and a beta of 0.67.
Coca-Cola European Partners (NYSE:CCE) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations 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 was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. Analysts forecast that Coca-Cola European Partners PLC will post 2.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Wednesday, August 22nd were given a dividend of $0.3008 per share. The ex-dividend date was Tuesday, August 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.68%. Coca-Cola European Partners’s dividend payout ratio (DPR) is presently 23.43%.
Coca-Cola European Partners Company 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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