Coca-Cola European Partners PLC (NYSE:CCEP) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,770,000 shares, an increase of 21.0% from the September 30th total of 2,290,000 shares. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is presently 2.4 days. Approximately 1.4% of the shares of the stock are sold short.
Shares of CCEP traded up $0.21 during trading hours on Thursday, reaching $52.09. 591,263 shares of the company traded hands, compared to its average volume of 1,163,451. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $25.02 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.05 and a beta of 0.41. Coca-Cola European Partners has a fifty-two week low of $44.44 and a fifty-two week high of $58.94. The stock has a fifty day simple moving average of $55.00 and a 200 day simple moving average of $55.72.
A number of analysts recently commented on the company. ABN Amro raised Coca-Cola European Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Barclays set a $61.00 price objective on Coca-Cola European Partners and gave the company a “buy” rating in a research note on Friday, October 25th. Deutsche Bank reaffirmed a “buy” rating and set 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. ValuEngine raised Coca-Cola European Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Liberum Capital assumed coverage on Coca-Cola European Partners in a research note on Thursday, September 19th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.80.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Coca-Cola European Partners in the 2nd quarter worth about $634,950,000. Boston Partners acquired a new stake in Coca-Cola European Partners in the 2nd quarter worth about $336,519,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Coca-Cola European Partners in the 2nd quarter worth about $240,454,000. Invesco Ltd. acquired a new stake in Coca-Cola European Partners in the 2nd quarter worth about $230,595,000. Finally, Wells Fargo & Company MN acquired a new stake in Coca-Cola European Partners in the 2nd quarter worth about $212,214,000. 29.08% of the stock is currently owned by institutional investors and hedge funds.
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.
Read More: What does a hold rating mean?
Receive News & Ratings for Coca-Cola European Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola European Partners and related companies with MarketBeat.com's FREE daily email newsletter.