Bank of Montreal Can lowered its position in shares of Coca-Cola European Partners plc (NYSE:CCE) by 52.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 72,274 shares of the company’s stock after selling 80,919 shares during the quarter. Bank of Montreal Can’s holdings in Coca-Cola European Partners were worth $2,880,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CCE. Advisor Group Inc. raised its holdings in shares of Coca-Cola European Partners by 35.5% during the second quarter. Advisor Group Inc. now owns 3,587 shares of the company’s stock valued at $132,000 after acquiring an additional 939 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Coca-Cola European Partners during the second quarter valued at approximately $182,000. Koch Industries Inc. acquired a new stake in shares of Coca-Cola European Partners during the second quarter valued at approximately $218,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Coca-Cola European Partners during the second quarter valued at approximately $238,000. Finally, BB&T Securities LLC acquired a new stake in shares of Coca-Cola European Partners during the third quarter valued at approximately $239,000. Institutional investors and hedge funds own 29.25% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Coca-Cola European Partners from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Macquarie lowered shares of Coca-Cola European Partners from an “outperform” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Friday, January 5th. Susquehanna Bancshares lowered shares of Coca-Cola European Partners from a “neutral” rating to a “neutral” rating and cut their price target for the company from $38.00 to $33.00 in a report on Monday, November 13th. UBS Group lowered shares of Coca-Cola European Partners to a “neutral” rating in a report on Monday, November 13th. Finally, Deutsche Bank assumed coverage on shares of Coca-Cola European Partners in a report on Wednesday, December 13th. They set a “buy” rating and a $43.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Coca-Cola European Partners presently has a consensus rating of “Hold” and a consensus target price of $43.38.
Coca-Cola European Partners (NYSE:CCE) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.12). The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.99 billion. Coca-Cola European Partners had a net margin of 6.78% and a return on equity of 15.60%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. equities research analysts expect that Coca-Cola European Partners plc will post 2.51 earnings per share for the current year.
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About Coca-Cola European Partners
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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