Coca-Cola European Partners PLC (CCE) Position Lowered by State of Wisconsin Investment Board
State of Wisconsin Investment Board decreased its holdings in Coca-Cola European Partners PLC (NYSE:CCE) by 30.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 341,642 shares of the company’s stock after selling 151,358 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.07% of Coca-Cola European Partners worth $13,884,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. KBC Group NV raised its stake in Coca-Cola European Partners by 341.8% during the second quarter. KBC Group NV now owns 511,072 shares of the company’s stock valued at $20,770,000 after buying an additional 395,385 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in Coca-Cola European Partners during the second quarter valued at approximately $11,253,000. Alps Advisors Inc. acquired a new stake in Coca-Cola European Partners during the second quarter valued at approximately $604,000. Apertura Capital LLC acquired a new stake in Coca-Cola European Partners during the second quarter valued at approximately $3,454,000. Finally, First Trust Advisors LP acquired a new stake in Coca-Cola European Partners during the second quarter valued at approximately $228,000. Institutional investors and hedge funds own 32.42% of the company’s stock.
Several brokerages have issued reports on CCE. Zacks Investment Research upgraded Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Co upped their price objective on Coca-Cola European Partners from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, August 10th. Jefferies Financial Group restated a “hold” rating and set a $46.00 price objective on shares of Coca-Cola European Partners in a research note on Wednesday. Finally, ValuEngine upgraded Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $41.50.
Coca-Cola European Partners (NYSE:CCE) last posted its earnings results on Thursday, August 9th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. Coca-Cola European Partners had a return on equity of 15.85% and a net margin of 5.97%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. equities research analysts anticipate that Coca-Cola European Partners PLC will post 2.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Stockholders of record on Wednesday, August 22nd will be issued a dividend of $0.3008 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, August 21st. Coca-Cola European Partners’s dividend payout ratio (DPR) is presently 33.89%.
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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