Coca-Cola European Partners (NYSE:CCEP) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Coca-Cola European Partners (NYSE:CCEP) from a hold rating to a sell rating in a research note published on Monday 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. “

Other research analysts have also issued research reports about the stock. Morgan Stanley restated a neutral rating and issued a $230.00 price target on shares of Tesla in a report on Wednesday, June 12th. ValuEngine lowered shares of Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $49.67.

Shares of CCEP stock opened at $56.96 on Monday. The stock has a market cap of $27.77 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 2.25 and a beta of 0.47. Coca-Cola European Partners has a 1-year low of $40.17 and a 1-year high of $58.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.79. The business’s 50-day moving average is $56.83.

A number of hedge funds and other institutional investors have recently bought and sold shares of CCEP. Zions Bancorporation N.A. purchased a new position in Coca-Cola European Partners in the second quarter valued at approximately $26,000. Advisory Services Network LLC purchased a new position in Coca-Cola European Partners in the first quarter valued at approximately $53,000. Investors Research Corp purchased a new position in Coca-Cola European Partners in the second quarter valued at approximately $159,000. Nachman Norwood & Parrott Inc acquired a new stake in Coca-Cola European Partners in the second quarter valued at approximately $209,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in Coca-Cola European Partners in the first quarter valued at approximately $233,000. Hedge funds and other institutional investors own 30.32% of the company’s stock.

About Coca-Cola European Partners

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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