Traders Buy Coca-Cola Enterprises Inc. (CCE) on Weakness
Traders purchased shares of Coca-Cola Enterprises Inc. (NYSE:CCE) on weakness during trading hours on Monday. $29.39 million flowed into the stock on the tick-up and $12.29 million flowed out of the stock on the tick-down, for a money net flow of $17.10 million into the stock. Of all companies tracked, Coca-Cola Enterprises had the 19th highest net in-flow for the day. Coca-Cola Enterprises traded down ($0.05) for the day and closed at $35.68
A number of equities analysts have weighed in on CCE shares. Vetr downgraded Coca-Cola Enterprises from a “strong-buy” rating to a “buy” rating and set a $58.52 price target for the company. in a research report on Thursday, May 5th. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola Enterprises in a research report on Thursday, April 28th. Evercore ISI reaffirmed a “buy” rating on shares of Coca-Cola Enterprises in a research report on Sunday, June 26th. Stifel Nicolaus raised Coca-Cola Enterprises from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Thursday, April 14th. They noted that the move was a valuation call. Finally, Credit Agricole SA reduced their price target on Coca-Cola Enterprises from $60.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, June 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $51.78.
The firm has a 50-day moving average of $39.20 and a 200-day moving average of $47.14. The stock has a market cap of $17.41 billion and a PE ratio of 24.78.
Coca-Cola Enterprises (NYSE:CCE) last announced its earnings results on Thursday, April 28th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. During the same quarter in the prior year, the company earned $0.42 earnings per share. The business earned $1.50 billion during the quarter, compared to the consensus estimate of $1.55 billion. Coca-Cola Enterprises’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts forecast that Coca-Cola Enterprises Inc. will post $2.29 earnings per share for the current fiscal year.
A number of institutional investors have made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Coca-Cola Enterprises by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 18,619,131 shares of the company’s stock worth $916,805,000 after buying an additional 1,172,202 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Coca-Cola Enterprises by 245.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 707,234 shares of the company’s stock worth $34,824,000 after buying an additional 502,361 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Coca-Cola Enterprises by 11.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,370,238 shares of the company’s stock worth $116,710,000 after buying an additional 247,677 shares in the last quarter. Russell Frank Co raised its position in shares of Coca-Cola Enterprises by 336.4% in the fourth quarter. Russell Frank Co now owns 301,904 shares of the company’s stock worth $14,981,000 after buying an additional 232,728 shares in the last quarter. Finally, Boston Partners raised its position in shares of Coca-Cola Enterprises by 8.7% in the fourth quarter. Boston Partners now owns 1,814,769 shares of the company’s stock worth $89,359,000 after buying an additional 145,213 shares in the last quarter.
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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