Coca-Cola European Partners PLC (NYSE:CCEP) Short Interest Up 28.2% in May

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Coca-Cola European Partners PLC (NYSE:CCEP) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 3,619,500 shares, an increase of 28.2% from the April 30th total of 2,822,400 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 3.0 days. Currently, 1.6% of the company’s shares are short sold.

A number of hedge funds have recently made changes to their positions in CCEP. Advisory Services Network LLC acquired a new position in shares of Coca-Cola European Partners during the first quarter worth about $53,000. ZWJ Investment Counsel Inc. purchased a new position in shares of Coca-Cola European Partners in the 1st quarter worth about $233,000. Adirondack Research & Management Inc. purchased a new position in shares of Coca-Cola European Partners in the 1st quarter worth about $333,000. First Trust Advisors LP purchased a new position in shares of Coca-Cola European Partners in the 1st quarter worth about $1,073,000. Finally, Marshall Wace LLP purchased a new position in shares of Coca-Cola European Partners in the 1st quarter worth about $5,946,000. Institutional investors own 30.32% of the company’s stock.

Shares of Coca-Cola European Partners stock traded up $0.03 during midday trading on Thursday, hitting $57.70. The company had a trading volume of 30,203 shares, compared to its average volume of 1,320,253. The firm has a market capitalization of $27.41 billion, a P/E ratio of 21.21, a PEG ratio of 2.20 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.78. Coca-Cola European Partners has a 12-month low of $38.64 and a 12-month high of $58.35.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were issued a $0.69 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.76 dividend on an annualized basis and a yield of 4.78%. This is a positive change from Coca-Cola European Partners’s previous quarterly dividend of $0.62.

A number of research analysts have recently commented on the stock. Morgan Stanley cut shares of Coca-Cola European Partners from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 12th. They noted that the move was a valuation call. ValuEngine upgraded shares of Coca-Cola European Partners from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Zacks Investment Research cut shares of Coca-Cola European Partners from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Coca-Cola European Partners has an average rating of “Buy” and a consensus target price of $49.67.

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.

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