Russell Investments Group Ltd. Cuts Stake in Coca-Cola European Partners PLC (NYSE:CCEP)

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Russell Investments Group Ltd. lowered its position in shares of Coca-Cola European Partners PLC (NYSE:CCEP) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,205 shares of the company’s stock after selling 5,610 shares during the period. Russell Investments Group Ltd.’s holdings in Coca-Cola European Partners were worth $7,694,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Coca-Cola European Partners by 0.7% during the first quarter. BlackRock Inc. now owns 12,167,718 shares of the company’s stock valued at $456,655,000 after buying an additional 82,603 shares during the period. Investec Asset Management LTD purchased a new position in shares of Coca-Cola European Partners during the fourth quarter valued at $218,858,000. Alliancebernstein L.P. increased its stake in shares of Coca-Cola European Partners by 4.2% during the fourth quarter. Alliancebernstein L.P. now owns 3,494,571 shares of the company’s stock valued at $177,804,000 after buying an additional 142,131 shares during the period. Boston Partners increased its stake in shares of Coca-Cola European Partners by 2.9% during the fourth quarter. Boston Partners now owns 2,447,188 shares of the company’s stock valued at $124,513,000 after buying an additional 70,036 shares during the period. Finally, Norges Bank bought a new stake in Coca-Cola European Partners during the fourth quarter valued at about $126,042,000. Hedge funds and other institutional investors own 27.09% of the company’s stock.

A number of brokerages recently weighed in on CCEP. Zacks Investment Research downgraded Coca-Cola European Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, March 18th. Deutsche Bank reduced their price target on Coca-Cola European Partners from $65.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. UBS Group cut their price objective on Coca-Cola European Partners from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Kepler Capital Markets reiterated a “buy” rating on shares of Coca-Cola European Partners in a research report on Wednesday, April 29th. Finally, Barclays reissued a “buy” rating and set a $45.00 price objective on shares of Coca-Cola European Partners in a research note on Friday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $47.69.

Shares of Coca-Cola European Partners stock opened at $36.65 on Friday. Coca-Cola European Partners PLC has a 52 week low of $28.35 and a 52 week high of $58.94. The business’s fifty day simple moving average is $39.52 and its 200-day simple moving average is $47.23. The firm has a market cap of $17.85 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 5.10 and a beta of 0.60. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 0.91.

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

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