Coca-Cola Enterprises Inc. (NYSE:CCE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday.
According to Zacks, “Coca-Cola European Partners PLC is a consumer packaged goods company. It is engaged in producing, distributing and marketing nonalcoholic ready-to-drink beverages. It operates primarily in Andorra, Belgium, continental France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. Coca-Cola European Partners PLC, formerly known as Coca-Cola Enterprises Inc., is headquartered in Uxbridge, United Kingdom. “
A number of other brokerages have also recently commented on CCE. Evercore ISI reaffirmed a “buy” rating on shares of Coca-Cola Enterprises in a report on Sunday, June 26th. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola Enterprises in a report on Saturday, June 4th. Vetr raised shares of Coca-Cola Enterprises from a “hold” rating to a “strong-buy” rating and set a $55.50 target price on the stock in a report on Tuesday, May 31st. TheStreet raised shares of Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, September 22nd. Finally, Societe Generale raised shares of Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Coca-Cola Enterprises has an average rating of “Buy” and a consensus price target of $50.54.
Shares of Coca-Cola Enterprises (NYSE:CCE) opened at 39.35 on Tuesday. The stock has a 50 day moving average of $39.11 and a 200-day moving average of $43.38. Coca-Cola Enterprises has a 12 month low of $33.67 and a 12 month high of $54.54. The firm has a market capitalization of $18.99 billion, a PE ratio of 29.90 and a beta of 1.06.
Coca-Cola Enterprises (NYSE:CCE) last announced its earnings results on Thursday, September 22nd. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by $0.11. The business earned $2.87 billion during the quarter, compared to analyst estimates of $3.03 billion. Coca-Cola Enterprises had a net margin of 7.56% and a return on equity of 28.73%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. On average, equities research analysts anticipate that Coca-Cola Enterprises will post $2.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.1909 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.76 annualized dividend and a dividend yield of 1.94%. Coca-Cola Enterprises’s payout ratio is currently 54.79%.
Several large investors have recently modified their holdings of CCE. Creative Planning raised its stake in shares of Coca-Cola Enterprises by 91.2% in the second quarter. Creative Planning now owns 3,521 shares of the company’s stock valued at $126,000 after buying an additional 1,679 shares during the last quarter. Smithfield Trust Co. raised its stake in Coca-Cola Enterprises by 1,550.0% in the second quarter. Smithfield Trust Co. now owns 3,630 shares of the company’s stock valued at $130,000 after buying an additional 3,410 shares in the last quarter. Signaturefd LLC raised its stake in Coca-Cola Enterprises by 381.9% in the second quarter. Signaturefd LLC now owns 3,730 shares of the company’s stock valued at $133,000 after buying an additional 2,956 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in Coca-Cola Enterprises by 2.5% in the second quarter. Wetherby Asset Management Inc. now owns 5,932 shares of the company’s stock valued at $212,000 after buying an additional 145 shares in the last quarter. Finally, Advisor Partners LLC raised its stake in Coca-Cola Enterprises by 0.4% in the first quarter. Advisor Partners LLC now owns 4,271 shares of the company’s stock valued at $217,000 after buying an additional 16 shares in the last quarter. Institutional investors own 27.14% of the company’s stock.
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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