Is Coca-Cola European Partners plc Ordinary Shares (CCE) A Good Stock To Buy?

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SinceCoca-Cola European Partners plc Ordinary Shares (NYSE:CCE) has faced falling interest from hedge fund managers, we can see that there was a specific group of funds that elected to cut their full holdings during the third quarter. Interestingly, First Eagle Investment Management sold off the biggest stake of the 700 funds tracked by Insider Monkey, worth about $183.9 million in stock, and Dan Loeb’s Third Point was right behind this move, as the fund sold off about $96.4 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) but similarly valued. These stocks are Aramark (NYSE:ARMK), Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC), Gartner Inc (NYSE:IT), and Mid America Apartment Communities Inc (NYSE:MAA). All of these stocks’ market caps are similar to CCE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ARMK 26 1092408 -7
TKC 5 1684 -1
IT 20 352111 -2
MAA 15 206005 -2

As you can see these stocks had an average of 17 funds with bullish positions at the end of September and the average amount invested in these stocks was $413 million. That figure was $978 million in CCE’s case. Aramark (NYSE:ARMK) is the most popular stock in this table. On the other hand Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC) is the least popular one with only five bullish hedge fund positions. Compared to these stocks Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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