Brown Advisory Inc. purchased a new position in shares of Coca-Cola Enterprises Inc. (NYSE:CCE) during the second quarter, Holdings Channel reports. The institutional investor purchased 6,387 shares of the company’s stock, valued at approximately $227,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lazard Asset Management LLC increased its position in shares of Coca-Cola Enterprises by 5.7% in the first quarter. Lazard Asset Management LLC now owns 530,651 shares of the company’s stock worth $26,925,000 after buying an additional 28,792 shares in the last quarter. State Street Corp increased its position in shares of Coca-Cola Enterprises by 2.3% in the first quarter. State Street Corp now owns 9,744,459 shares of the company’s stock worth $494,438,000 after buying an additional 216,662 shares in the last quarter. BB&T Securities LLC increased its position in shares of 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. Canada Pension Plan Investment Board increased its position in shares of Coca-Cola Enterprises by 55.1% in the first quarter. Canada Pension Plan Investment Board now owns 1,365,759 shares of the company’s stock worth $69,299,000 after buying an additional 485,000 shares in the last quarter. Finally, Credit Agricole S A increased its position in shares of Coca-Cola Enterprises by 8.4% in the first quarter. Credit Agricole S A now owns 592,106 shares of the company’s stock worth $30,043,000 after buying an additional 45,815 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Coca-Cola Enterprises Inc. (NYSE:CCE) traded down 0.8920% during midday trading on Friday, hitting $38.8999. 259,820 shares of the stock were exchanged. The firm’s 50 day moving average is $39.25 and its 200-day moving average is $42.95. The stock has a market capitalization of $18.77 billion, a price-to-earnings ratio of 29.3806 and a beta of 1.02. Coca-Cola Enterprises Inc. has a 1-year low of $33.67 and a 1-year high of $54.54.
Coca-Cola Enterprises (NYSE:CCE) last announced its earnings results on Thursday, September 22nd. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the business earned $0.79 EPS. Coca-Cola Enterprises’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts predict that Coca-Cola Enterprises Inc. will post $2.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a dividend of $0.1909 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, September 29th. Coca-Cola Enterprises’s dividend payout ratio is presently 34.70%.
A number of brokerages recently commented on CCE. TheStreet raised Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, September 22nd. Credit Suisse Group AG started coverage on Coca-Cola Enterprises in a report on Thursday, September 15th. They issued a “neutral” rating for the company. Deutsche Bank AG restated a “buy” rating and set a $47.00 price objective on shares of Coca-Cola Enterprises in a research note on Friday, June 10th. Zacks Investment Research cut Coca-Cola Enterprises from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. Finally, Susquehanna restated a “neutral” rating on shares of Coca-Cola Enterprises in a research note on Tuesday, June 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $50.54.
Coca-Cola Enterprises Company Profile
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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