Coca-Cola Enterprises Inc. (CCE) Stake Maintained by Sit Investment Associates Inc.
Sit Investment Associates Inc. maintained its position in Coca-Cola Enterprises Inc. (NYSE:CCE) during the second quarter, Holdings Channel reports. The fund owned 48,900 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Coca-Cola Enterprises were worth $1,745,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCE. Creative Planning boosted its position in 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 period. Advisor Partners LLC boosted its position 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 during the period. Prudential PLC purchased a new position in Coca-Cola Enterprises during the first quarter valued at approximately $254,000. Springbok Capital Management LLC purchased a new position in Coca-Cola Enterprises during the first quarter valued at approximately $288,000. Finally, Commonwealth Equity Services Inc boosted its position 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 valued at $308,000 after buying an additional 654 shares during the period. Hedge funds and other institutional investors own 27.12% of the company’s stock.
Shares of Coca-Cola Enterprises Inc. (NYSE:CCE) traded down 0.45% during midday trading on Tuesday, hitting $37.70. 1,427,276 shares of the company traded hands. The stock has a market capitalization of $18.19 billion, a P/E ratio of 28.67 and a beta of 1.02. Coca-Cola Enterprises Inc. has a 12-month low of $33.67 and a 12-month high of $54.54. The stock’s 50-day moving average is $39.26 and its 200 day moving average is $42.69.
Coca-Cola Enterprises (NYSE:CCE) last posted its quarterly earnings data on Thursday, September 22nd. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.11. The company 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 company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. On average, analysts expect that Coca-Cola Enterprises Inc. will post $2.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.1909 dividend. This represents a $0.76 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, September 29th. Coca-Cola Enterprises’s payout ratio is presently 34.70%.
A number of analysts have recently weighed in on the stock. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola Enterprises in a research note on Sunday, July 17th. Zacks Investment Research lowered shares of Coca-Cola Enterprises from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. Credit Suisse Group AG assumed coverage on shares of Coca-Cola Enterprises in a research note on Thursday, September 15th. They issued a “neutral” rating for the company. Societe Generale raised shares of Coca-Cola Enterprises from a “hold” rating to a “buy” rating in a research note on Tuesday, July 19th. Finally, Goldman Sachs Group Inc. lowered shares of Coca-Cola Enterprises from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Coca-Cola Enterprises has an average rating of “Buy” and a consensus 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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