Coca-Cola European Partners (NYSE:CCEP) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Coca-Cola European Partners (NYSE:CCEP) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

CCEP has been the topic of several other reports. UBS Group decreased their price objective on shares of 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. HSBC assumed coverage on Coca-Cola European Partners in a research report on Friday, June 5th. They issued a hold rating and a $44.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Coca-Cola European Partners from $45.00 to $47.25 and gave the stock an overweight rating in a research report on Wednesday, April 29th. ABN Amro raised Coca-Cola European Partners from a hold rating to a buy rating in a research note on Monday, July 6th. Finally, Barclays reissued a buy rating and set a $45.00 target price on shares of Coca-Cola European Partners in a research note on Friday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $44.23.

NYSE CCEP traded down $0.58 during trading hours on Wednesday, reaching $42.10. The company had a trading volume of 1,958,439 shares, compared to its average volume of 1,721,448. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $20.39 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 5.35 and a beta of 0.58. The stock has a 50-day moving average of $39.76 and a 200 day moving average of $42.30. Coca-Cola European Partners has a 1-year low of $28.35 and a 1-year high of $58.94.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC raised its position in Coca-Cola European Partners by 1,588.5% in the 2nd quarter. Berman Capital Advisors LLC now owns 878 shares of the company’s stock valued at $32,000 after purchasing an additional 826 shares in the last quarter. Ballast Advisors LLC purchased a new stake in shares of Coca-Cola European Partners during the first quarter worth approximately $34,000. Ninety One SA PTY Ltd purchased a new stake in shares of Coca-Cola European Partners during the first quarter worth approximately $44,000. Cullen Frost Bankers Inc. acquired a new stake in Coca-Cola European Partners in the second quarter valued at approximately $52,000. Finally, Whittier Trust Co. lifted its stake in Coca-Cola European Partners by 36.6% in the first quarter. Whittier Trust Co. now owns 2,249 shares of the company’s stock worth $84,000 after acquiring an additional 603 shares during the last quarter. 26.46% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola European Partners Company Profile

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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