Artisan Partners Limited Partnership Buys 2,006,947 Shares of Coca-Cola European Partners PLC (CCE)

Artisan Partners Limited Partnership boosted its stake in shares of Coca-Cola European Partners PLC (NYSE:CCE) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,633,760 shares of the company’s stock after acquiring an additional 2,006,947 shares during the period. Coca-Cola European Partners PLC accounts for about 1.3% of Artisan Partners Limited Partnership’s portfolio, making the stock its 19th biggest position. Artisan Partners Limited Partnership owned about 3.51% of Coca-Cola European Partners PLC worth $676,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CCE. US Bancorp DE increased its stake in Coca-Cola European Partners PLC by 18.5% during the 1st quarter. US Bancorp DE now owns 40,381 shares of the company’s stock worth $1,523,000 after acquiring an additional 6,300 shares during the period. Suntrust Banks Inc. increased its stake in Coca-Cola European Partners PLC by 0.9% during the 1st quarter. Suntrust Banks Inc. now owns 8,690 shares of the company’s stock worth $325,000 after acquiring an additional 78 shares during the period. Comerica Bank bought a new position in Coca-Cola European Partners PLC during the 1st quarter worth $565,000. Keybank National Association OH bought a new position in Coca-Cola European Partners PLC during the 1st quarter worth $259,000. Finally, Oxford Asset Management bought a new position in Coca-Cola European Partners PLC during the 1st quarter worth $779,000. Hedge funds and other institutional investors own 29.74% of the company’s stock.

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A number of research firms have commented on CCE. BidaskClub upgraded Coca-Cola European Partners PLC from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Deutsche Bank AG restated a “hold” rating and set a $46.00 price objective (up previously from $44.00) on shares of Coca-Cola European Partners PLC in a research note on Friday, August 11th. Jefferies Group LLC restated a “hold” rating and set a $45.00 price objective on shares of Coca-Cola European Partners PLC in a research note on Thursday. Zacks Investment Research lowered Coca-Cola European Partners PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Argus raised their price objective on Coca-Cola European Partners PLC from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.22.

Shares of Coca-Cola European Partners PLC (NYSE:CCE) traded up 1.49% during midday trading on Friday, hitting $41.48. The company’s stock had a trading volume of 1,614,157 shares. The stock’s 50 day moving average is $43.15 and its 200-day moving average is $40.18. Coca-Cola European Partners PLC has a 52-week low of $30.55 and a 52-week high of $44.75. The firm has a market cap of $20.09 billion, a P/E ratio of 21.64 and a beta of 0.96.

Coca-Cola European Partners PLC (NYSE:CCE) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Coca-Cola European Partners PLC had a net margin of 6.93% and a return on equity of 15.52%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Equities analysts predict that Coca-Cola European Partners PLC will post $2.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 28th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. This is a boost from Coca-Cola European Partners PLC’s previous quarterly dividend of $0.23. Coca-Cola European Partners PLC’s dividend payout ratio is presently 56.50%.

Coca-Cola European Partners PLC 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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Institutional Ownership by Quarter for Coca-Cola European Partners PLC (NYSE:CCE)

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