Analysis: Coca-Cola Enterprises Inc (NYSE:CCE) Target Increased Today
In an analyst research report distributed to Clients by CLSA on Friday, 18 December, the firm, Coca-Cola Enterprises Inc (NYSE:CCE), had their Estimated Target Price downgraded to $55.00. Analusts now have a solid “Outperform” rating on the stock.
From a total of 14 analysts covering Coca-Cola Enterprises Inc. (NYSE:CCE) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $60 while the lowest target price is $45. The mean of all analyst targets is $53.36 with a 10.65% above today’s ($48.73) stock price. Coca-Cola Enterprises Inc. was the topic of 20 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets downgraded shares on September 8 to “Sector Perform” rating. HSBC downgraded shares to “Hold” rating and $54 target share price in a report from an August 7. Credit Agricole upgraded CCE stock in a recent report from August 13 to “Underperform” rating. Finally, Gabelli downgraded the stock to “Hold” rating in a report issued on an August 7.
Approximately 3.73 million shares of stock traded hands or 64.32% up from the average. Coca-Cola Enterprises Inc (NYSE:CCE) has risen 5.26% since May 15, 2015 and is uptrending. It has outperformed by 9.07% the S&P500.
The overall sentiment of institutions has decreased to 0.93 in Q2 2015. Its down 0.05, from 0.98 in 2015Q2. The ratio turned negative, as 42 institutions have sold all the shares of Coca-Cola Enterprises Inc that they owned while 170 funds have taken shares off the table. 61 funds have purchased shares for the first time while 137 added to their positions. These institutions now hold 193.03 million shares or 11.03% more than the 173.85 million shares they owned in 2015Q2.
The Fund Hhg & Company Llc currently is holding shares equating to 15.23% of its total portfolio in Coca-Cola Enterprises Inc representing a total of 1.04 million shares. Another fund,Sheffield Asset Management L.L.C., is holding a total of 1.42 million shares equating to 10.03% of their holdings. Additionally, United Bank Va has a 43,688 share stake in Coca-Cola Enterprises Inc which represents 2.89% of their total portfolio. The Fund, United Bank Inc., based out of West Virginia, has also built up a stake in the stock, which represents a total of 2.2% of their total portfolio. Finally O'Shaughnessy Asset Management Llc, a fund which is based in the state of Connecticut reported a total holdings of 1.92 million shares.
Coca-Cola Enterprises, Inc. markets, produces and distributes non-alcoholic beverages. The company has a market cap of $11.13 billion. The Firm serves a market of approximately 170 million clients throughout Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, and Sweden. It has 20.9 P/E ratio. The Firm is The Coca-Cola Company’s (TCCC) bottling partner in Western Europe.
According to Zacks Investment Research, “Coca-Cola Enterprises is the world’s largest marketer, distributor, and producer of bottle and can liquid nonalcoholic refreshment. Coca-Cola Enterprises sells a good portion of The Coca-Cola Company’s bottle and can volume in North America and is the sole licensed bottler for products of The Coca-Cola Company in Belgium, continental France, Great Britain, Luxembourg, Monaco, and the Netherlands. (Company Press Release)”