Zacks Investment Research downgraded shares of Coca-Cola European Partners PLC (NYSE:CCE) from a strong-buy rating to a hold rating in a research note published on Monday.

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 also recently commented on CCE. UBS AG restated a buy rating and issued a $50.00 target price (up from $46.00) on shares of Coca-Cola European Partners PLC in a research note on Monday, August 14th. Barclays PLC set a $47.00 target price on Coca-Cola European Partners PLC and gave the company a buy rating in a research note on Sunday, August 13th. Deutsche Bank AG restated a hold rating and issued a $46.00 target price (up from $44.00) on shares of Coca-Cola European Partners PLC in a research note on Friday, August 11th. BidaskClub upgraded Coca-Cola European Partners PLC from a hold rating to a buy rating in a research note on Thursday, August 3rd. Finally, Susquehanna Bancshares Inc restated a hold rating on shares of Coca-Cola European Partners PLC in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $44.75.

Shares of Coca-Cola European Partners PLC (CCE) opened at 42.58 on Monday. The firm’s 50-day moving average price is $43.32 and its 200 day moving average price is $40.04. The stock has a market capitalization of $20.62 billion, a P/E ratio of 22.69 and a beta of 0.96. Coca-Cola European Partners PLC has a 1-year low of $30.55 and a 1-year high of $44.75.

Coca-Cola European Partners PLC (NYSE:CCE) last issued its earnings results on Thursday, August 10th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. Coca-Cola European Partners PLC had a return on equity of 15.52% and a net margin of 6.93%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. Analysts expect that Coca-Cola European Partners PLC will post $2.57 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 28th were issued a dividend of $0.25 per share. This is a boost from Coca-Cola European Partners PLC’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 24th. This represents a $1.00 annualized dividend and a yield of 2.35%. Coca-Cola European Partners PLC’s payout ratio is presently 56.50%.

A number of large investors have recently made changes to their positions in the stock. Phocas Financial Corp. bought a new stake in Coca-Cola European Partners PLC during the second quarter worth approximately $182,000. Koch Industries Inc. bought a new stake in Coca-Cola European Partners PLC during the second quarter worth approximately $218,000. Raymond James Financial Services Advisors Inc. bought a new stake in Coca-Cola European Partners PLC during the second quarter worth approximately $238,000. The Manufacturers Life Insurance Company raised its holdings in Coca-Cola European Partners PLC by 9,586.0% during the second quarter. The Manufacturers Life Insurance Company now owns 131,729 shares of the company’s stock worth $5,358,000 after purchasing an additional 130,369 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in Coca-Cola European Partners PLC during the second quarter worth approximately $4,406,000. 29.74% of the stock is currently owned by hedge funds and other institutional investors.

About Coca-Cola European Partners PLC

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.

Analyst Recommendations for Coca-Cola European Partners PLC (NYSE:CCE)

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