Coca-Cola Enterprises Inc. (CCE) Downgraded to “Neutral” at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. downgraded shares of Coca-Cola Enterprises Inc. (NYSE:CCE) from a buy rating to a neutral rating in a research note released on Monday. Goldman Sachs Group Inc. currently has $43.00 price target on the stock.
Other analysts also recently issued reports about the company. Susquehanna reaffirmed a hold rating on shares of Coca-Cola Enterprises in a report on Sunday, July 17th. Evercore ISI reissued a buy rating on shares of Coca-Cola Enterprises in a report on Sunday, June 26th. Zacks Investment Research raised Coca-Cola Enterprises from a strong sell rating to a hold rating in a report on Tuesday, August 2nd. TheStreet raised Coca-Cola Enterprises from a hold rating to a buy rating in a research note on Thursday, September 22nd. Finally, Credit Suisse Group AG assumed coverage on Coca-Cola Enterprises in a research note on Thursday, September 15th. They set a neutral rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $50.29.
Coca-Cola Enterprises (NYSE:CCE) traded down 0.26% during midday trading on Monday, reaching $37.77. The company’s stock had a trading volume of 216,790 shares. The stock’s 50-day moving average price is $39.26 and its 200 day moving average price is $42.69. The firm has a market capitalization of $18.23 billion, a PE ratio of 28.72 and a beta of 1.02. Coca-Cola Enterprises has a 1-year low of $33.67 and a 1-year high of $54.54.
Coca-Cola Enterprises (NYSE:CCE) last issued its quarterly earnings data on Thursday, September 22nd. The company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.11. Coca-Cola Enterprises had a net margin of 7.56% and a return on equity of 28.73%. The firm earned $2.87 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities analysts anticipate that Coca-Cola Enterprises will post $2.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a $0.1909 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.76 annualized dividend and a yield of 2.02%. Coca-Cola Enterprises’s dividend payout ratio is currently 34.70%.
A number of hedge funds have recently made changes to their positions in the stock. Calvert Investment Management Inc. increased its stake in shares of Coca-Cola Enterprises by 916.2% in the second quarter. Calvert Investment Management Inc. now owns 157,475 shares of the company’s stock valued at $5,620,000 after buying an additional 141,979 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Coca-Cola Enterprises by 137.5% in the second quarter. Stifel Financial Corp now owns 26,797 shares of the company’s stock valued at $957,000 after buying an additional 15,516 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Coca-Cola Enterprises by 186.9% in the second quarter. Point72 Asset Management L.P. now owns 643,000 shares of the company’s stock valued at $22,949,000 after buying an additional 418,900 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Coca-Cola Enterprises during the second quarter valued at about $69,235,000. Finally, EverPoint Asset Management LLC increased its stake in shares of Coca-Cola Enterprises by 137.0% in the second quarter. EverPoint Asset Management LLC now owns 663,734 shares of the company’s stock valued at $23,689,000 after buying an additional 383,734 shares in the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.
Coca-Cola Enterprises Company Profile
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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