Coca-Cola HBC (LON:CCH) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Coca-Cola HBC shares crossed above their 200-day moving average, reaching GBX 4,672 before closing at GBX 4,658. The 200-day average was GBX 4,518.36.
• Analyst sentiment remains positive: five analysts rate the stock Buy and one rates it Hold, resulting in a consensus “Moderate Buy” rating and an average price target of GBX 5,315.60.
• The company has a £16.98 billion market capitalization and reported recent insider buying, including purchases totaling 126,916 shares over the past 90 days.

Coca-Cola HBC AG (LON:CCH - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 4,518.36 and traded as high as GBX 4,672. Coca-Cola HBC shares last traded at GBX 4,658, with a volume of 811,532 shares.

Wall Street Analyst Weigh In

CCH has been the subject of several recent research reports. UBS Group reissued a "buy" rating and set a GBX 4,900 price target on shares of Coca-Cola HBC in a research report on Tuesday, May 5th. Berenberg Bank upped their price objective on Coca-Cola HBC from GBX 5,007 to GBX 5,453 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 5,500 price objective on shares of Coca-Cola HBC in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola HBC from GBX 5,550 to GBX 5,700 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Citigroup boosted their target price on shares of Coca-Cola HBC from GBX 4,500 to GBX 5,025 and gave the stock a "neutral" rating in a report on Friday, July 3rd. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Coca-Cola HBC presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 5,315.60.

Coca-Cola HBC Stock Performance

The stock has a fifty day simple moving average of GBX 4,814.16 and a two-hundred day simple moving average of GBX 4,518.36. The stock has a market cap of £16.98 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.03 and a beta of 0.55. The company has a debt-to-equity ratio of 150.62, a quick ratio of 0.80 and a current ratio of 1.37.

Insider Buying and Selling at Coca-Cola HBC

In related news, insider Zoran Bogdanovic purchased 110 shares of Coca-Cola HBC stock in a transaction dated Friday, July 17th. The shares were bought at an average cost of GBX 4,964 per share, for a total transaction of £5,460.40. In the last ninety days, insiders acquired 126,916 shares of company stock worth $582,653,646. 95.72% of the stock is owned by corporate insiders.

Coca-Cola HBC Company Profile

Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We open up moments that refresh us all, by creating value for our stakeholders and supporting the socio-economic development of the communities in which we operate. With a vision to be the leading 24/7 beverage partner, we offer drinks for all occasions around the clock and work together with our customers to serve 760 million consumers across a broad geographic footprint of 29 countries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source