BlackRock Advisors LLC lowered its position in Coca-Cola Enterprises Inc. (NYSE:CCE) by 63.4% during the second quarter, Holdings Channel reports. The institutional investor owned 124,041 shares of the company’s stock after selling 214,833 shares during the period. BlackRock Advisors LLC’s holdings in Coca-Cola Enterprises were worth $4,427,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of CCE. CENTRAL TRUST Co raised its stake in Coca-Cola Enterprises by 1.6% in the second quarter. CENTRAL TRUST Co now owns 6,632 shares of the company’s stock worth $237,000 after buying an additional 107 shares in the last quarter. Kwmg LLC raised its stake in Coca-Cola Enterprises by 2.1% in the second quarter. Kwmg LLC now owns 18,521 shares of the company’s stock worth $661,000 after buying an additional 384 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in Coca-Cola Enterprises by 12.1% in the first quarter. Commonwealth Equity Services Inc now owns 6,073 shares of the company’s stock worth $308,000 after buying an additional 654 shares in the last quarter. BB&T Securities LLC raised its stake in Coca-Cola Enterprises by 3.5% in the first quarter. BB&T Securities LLC now owns 24,232 shares of the company’s stock worth $1,229,000 after buying an additional 820 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its stake in Coca-Cola Enterprises by 5.3% in the second quarter. I.G. Investment Management LTD. now owns 17,796 shares of the company’s stock worth $635,000 after buying an additional 894 shares in the last quarter. Institutional investors own 27.09% of the company’s stock.
Shares of Coca-Cola Enterprises Inc. (NYSE:CCE) opened at 38.03 on Wednesday. Coca-Cola Enterprises Inc. has a 12 month low of $33.67 and a 12 month high of $54.54. The company has a 50-day moving average of $39.17 and a 200 day moving average of $42.20. The company has a market capitalization of $18.35 billion, a P/E ratio of 28.92 and a beta of 1.02.
Coca-Cola Enterprises (NYSE:CCE) last announced its earnings results on Thursday, September 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.11. Coca-Cola Enterprises had a return on equity of 28.73% and a net margin of 7.56%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the firm posted $0.79 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. Analysts forecast that Coca-Cola Enterprises Inc. will post $2.12 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 3rd were given a dividend of $0.1909 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, September 29th. Coca-Cola Enterprises’s dividend payout ratio (DPR) is currently 34.70%.
A number of analysts have weighed in on the company. Evercore ISI restated a “buy” rating on shares of Coca-Cola Enterprises in a report on Sunday, June 26th. Susquehanna restated a “hold” rating on shares of Coca-Cola Enterprises in a report on Sunday, July 17th. Credit Suisse Group AG assumed coverage on Coca-Cola Enterprises in a report on Thursday, September 15th. They set a “neutral” rating for the company. Zacks Investment Research upgraded Coca-Cola Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Societe Generale raised Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.29.
About Coca-Cola Enterprises
Coca-Cola Enterprises, Inc (CCE) markets, produces and distributes nonalcoholic beverages. The Company serves customers across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. The Company’s segments include Europe and Corporate. CCE is The Coca-Cola Company’s strategic bottling partner in Western Europe.
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