York Capital Management Global Advisors LLC bought a new stake in Coca-Cola European Partners plc (NYSE:CCE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,122,414 shares of the company’s stock, valued at approximately $44,728,000. Coca-Cola European Partners accounts for approximately 1.1% of York Capital Management Global Advisors LLC’s investment portfolio, making the stock its 20th largest holding.
Other hedge funds also recently bought and sold shares of the company. BB&T Securities LLC bought a new position in shares of Coca-Cola European Partners in the third quarter valued at approximately $239,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Coca-Cola European Partners in the second quarter valued at approximately $238,000. ETRADE Capital Management LLC bought a new position in shares of Coca-Cola European Partners in the fourth quarter valued at approximately $234,000. LMR Partners LLP bought a new position in shares of Coca-Cola European Partners in the fourth quarter valued at approximately $241,000. Finally, 180 Wealth Advisors LLC bought a new position in shares of Coca-Cola European Partners in the fourth quarter valued at approximately $244,000. Institutional investors own 30.87% of the company’s stock.
Shares of Coca-Cola European Partners plc (NYSE:CCE) traded up $0.35 on Monday, hitting $41.25. The company had a trading volume of 167,220 shares, compared to its average volume of 1,687,591. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $19,811.20, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.89 and a beta of 0.84. Coca-Cola European Partners plc has a one year low of $35.34 and a one year high of $44.75.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be given a $0.32 dividend. This is an increase from Coca-Cola European Partners’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Monday, February 26th. Coca-Cola European Partners’s dividend payout ratio (DPR) is currently 81.53%.
A number of research analysts have recently weighed in on CCE shares. Zacks Investment Research lowered Coca-Cola European Partners from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. ValuEngine raised 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 target for the company. in a research report on Friday, January 5th. Deutsche Bank assumed coverage on Coca-Cola European Partners in a research report on Wednesday, December 13th. They set a “buy” rating and a $43.00 price target for the company. Finally, Susquehanna Bancshares decreased their price target 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Coca-Cola European Partners currently has an average rating of “Hold” and a consensus price target of $43.38.
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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