BB&T Corp decreased its stake in Coca-Cola European Partners PLC (NYSE:CCEP) by 40.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,537 shares of the company’s stock after selling 7,028 shares during the period. BB&T Corp’s holdings in Coca-Cola European Partners were worth $584,000 at the end of the most recent reporting period.
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A number of other hedge funds also recently made changes to their positions in the stock. Sheets Smith Wealth Management boosted its stake in Coca-Cola European Partners by 2.8% in the third quarter. Sheets Smith Wealth Management now owns 7,662 shares of the company’s stock worth $425,000 after purchasing an additional 208 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Coca-Cola European Partners by 5.6% in the third quarter. Oppenheimer & Co. Inc. now owns 4,054 shares of the company’s stock worth $225,000 after purchasing an additional 214 shares in the last quarter. Pinnacle Bank boosted its stake in Coca-Cola European Partners by 4.1% in the third quarter. Pinnacle Bank now owns 5,631 shares of the company’s stock worth $312,000 after purchasing an additional 220 shares in the last quarter. Whittier Trust Co. boosted its stake in Coca-Cola European Partners by 19.8% in the third quarter. Whittier Trust Co. now owns 1,449 shares of the company’s stock worth $80,000 after purchasing an additional 239 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Coca-Cola European Partners by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 21,533 shares of the company’s stock worth $1,194,000 after purchasing an additional 269 shares in the last quarter. 29.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of CCEP opened at $51.29 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 0.90. Coca-Cola European Partners PLC has a 12-month low of $44.44 and a 12-month high of $58.94. The firm has a market capitalization of $25.18 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.06 and a beta of 0.41. The stock’s fifty day simple moving average is $55.44 and its 200-day simple moving average is $55.74.
A number of equities analysts have commented on CCEP shares. ValuEngine raised Coca-Cola European Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Barclays set a $61.00 price objective on Coca-Cola European Partners and gave the stock a “buy” rating in a research note on Friday, October 25th. Liberum Capital started coverage on Coca-Cola European Partners in a research note on Thursday, September 19th. They issued a “buy” rating on the stock. Deutsche Bank reissued a “buy” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Coca-Cola European Partners in a research note on Tuesday, October 15th. Finally, Zacks Investment Research lowered Coca-Cola European Partners from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $58.80.
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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