Coca-Cola European Partners (CCE) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Coca-Cola European Partners (NYSE:CCE) from a buy rating to a hold rating in a research report released on Wednesday morning.

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. “

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CCE has been the subject of several other reports. Goldman Sachs upgraded Coca-Cola European Partners from a neutral rating to a buy rating in a research report on Tuesday. ValuEngine upgraded Coca-Cola European Partners from a hold rating to a buy rating in a research report on Wednesday, March 7th. Macquarie downgraded Coca-Cola European Partners from an outperform rating to a neutral rating and set a $40.00 price objective for the company. in a research report on Friday, January 5th. Deutsche Bank lifted their price objective on Coca-Cola European Partners from $43.00 to $46.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, Susquehanna Bancshares cut their price objective on Coca-Cola European Partners from $33.00 to $30.00 and set a negative rating for the company in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $43.88.

Shares of Coca-Cola European Partners stock opened at $41.32 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.01 and a quick ratio of 0.81. Coca-Cola European Partners has a 1 year low of $36.17 and a 1 year high of $44.75. The company has a market cap of $20,271.37, a P/E ratio of 17.08, a P/E/G ratio of 2.07 and a beta of 0.74.

Coca-Cola European Partners (NYSE:CCE) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Coca-Cola European Partners had a return on equity of 16.12% and a net margin of 5.91%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $0.43 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. analysts forecast that Coca-Cola European Partners will post 2.81 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in CCE. ETRADE Capital Management LLC purchased a new stake in Coca-Cola European Partners in the 4th quarter worth approximately $234,000. LMR Partners LLP purchased a new stake in Coca-Cola European Partners in the 4th quarter worth approximately $241,000. 180 Wealth Advisors LLC purchased a new stake in Coca-Cola European Partners in the 4th quarter worth approximately $244,000. Rothschild Investment Corp IL purchased a new stake in Coca-Cola European Partners in the 4th quarter worth approximately $245,000. Finally, Victory Capital Management Inc. grew its stake in Coca-Cola European Partners by 24.9% in the 4th quarter. Victory Capital Management Inc. now owns 7,918 shares of the company’s stock worth $316,000 after acquiring an additional 1,578 shares during the period. 30.86% of the stock is owned by hedge funds and other institutional investors.

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About Coca-Cola European Partners

Coca-Cola European Partners plc, together with its subsidiaries, produces, distributes, and markets a range of nonalcoholic ready-to-drink beverages. The company offers water, juice, isotonic, sparkling flavor and energy drink, and other products. It provides its products primarily under the Coca-Cola, Fanta, and Monster brands, as well as Coca-Cola Zero Sugar, Vio, Royal Bliss, Honest, and GLACÉAU Smartwater brands.

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