Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in Coca-Cola European Partners PLC (NYSE:CCEP) by 17.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,040 shares of the company’s stock after selling 21,318 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coca-Cola European Partners were worth $3,815,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. First Trust Advisors LP bought a new stake in Coca-Cola European Partners in the first quarter valued at about $1,073,000. Geode Capital Management LLC grew its stake in shares of Coca-Cola European Partners by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 900,941 shares of the company’s stock valued at $45,565,000 after purchasing an additional 19,136 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Coca-Cola European Partners in the 4th quarter worth approximately $3,523,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Coca-Cola European Partners during the 4th quarter worth approximately $981,000. Finally, Norges Bank acquired a new stake in Coca-Cola European Partners in the 4th quarter valued at $126,042,000. Hedge funds and other institutional investors own 26.46% of the company’s stock.
Several equities research analysts have recently commented on the stock. Barclays restated a “buy” rating and issued a $45.00 target price on shares of Coca-Cola European Partners in a research note on Friday, April 17th. Zacks Investment Research raised shares of Coca-Cola European Partners from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a report on Wednesday, July 15th. HSBC initiated coverage on Coca-Cola European Partners in a research report on Friday, June 5th. They set a “hold” rating and a $44.00 price target on the stock. Citigroup raised Coca-Cola European Partners from a “neutral” rating to a “buy” rating in a research note on Thursday, May 28th. Finally, UBS Group decreased their target price on Coca-Cola European Partners from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $45.66.
Shares of CCEP opened at $41.17 on Friday. The stock’s fifty day simple moving average is $38.92 and its 200-day simple moving average is $43.10. The firm has a market capitalization of $19.94 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 5.47 and a beta of 0.57. Coca-Cola European Partners PLC has a 12-month low of $28.35 and a 12-month high of $58.94. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 0.91.
About Coca-Cola European Partners
Coca-Cola European Partners plc, together with its subsidiaries, produces, markets, distributes, and sells a range of nonalcoholic ready-to-drink beverages. The company offers sparkling flavors, energy drinks, juices, isotonics, and other drinks, as well as water. It provides its products primarily under the Coca-Cola, Fanta, and Sprite brands, as well as Coca-Cola Zero Sugar, Mezzo Mix, Schweppes, Royal Bliss, Fïnle, Monster, GLACÉAU Smartwater, Vio, Chaudfontaine, Fuze Tea, Honest Coffee, Oasis, Capri-Sun, Honest, and Tropico brands.
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