Coca-Cola HBC (LON:CCH) Trading Down 7.9% - Here's What Happened

Key Points

• Coca-Cola HBC shares fell 7.9% to GBX 4,248 in mid-day trading, with about 2.99 million shares changing hands—61% below average volume.
• Analysts remain broadly optimistic: five rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 5,320.60.
• The company has a £15.48 billion market capitalization and a P/E ratio of 16.40; insider Zoran Bogdanovic recently sold 13,609 shares for approximately £654,321.

Coca-Cola HBC AG (LON:CCH - Get Free Report) shares were down 7.9% during mid-day trading on Friday . The company traded as low as GBX 4,238 and last traded at GBX 4,248. Approximately 2,987,241 shares traded hands during trading, a decline of 61% from the average daily volume of 7,594,060 shares. The stock had previously closed at GBX 4,610.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup increased their target price on Coca-Cola HBC from GBX 4,500 to GBX 5,025 and gave the company a "neutral" rating in a research note on Friday, July 3rd. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 5,500 target price on shares of Coca-Cola HBC in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola HBC from GBX 5,700 to GBX 5,725 and gave the company a "buy" rating in a report on Wednesday. Finally, Berenberg Bank upped their price target on Coca-Cola HBC from GBX 5,007 to GBX 5,453 and gave the company a "buy" rating in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Coca-Cola HBC currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 5,320.60.

Coca-Cola HBC Price Performance

The company has a debt-to-equity ratio of 150.62, a current ratio of 1.37 and a quick ratio of 0.80. The company has a 50-day simple moving average of GBX 4,728.15 and a two-hundred day simple moving average of GBX 4,540.75. The stock has a market capitalization of £15.48 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.03 and a beta of 0.54.

Insider Activity at Coca-Cola HBC

In related news, insider Zoran Bogdanovic sold 13,609 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of GBX 4,808, for a total value of £654,320.72. Insiders have bought a total of 357 shares of company stock worth $1,683,839 in the last three months. 95.72% of the stock is currently 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.

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