Coca-Cola Enterprises Inc (NYSE:CCE) was in 27 hedge funds’ portfolio at the end of December. CCE investors should pay attention to an increase in support from the world’s most elite money managers in recent months. There were 24 hedge funds in our database with CCE positions at the end of the previous quarter.
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Now, it’s important to take a look at the latest action surrounding Coca-Cola Enterprises Inc (NYSE:CCE).
How are hedge funds trading Coca-Cola Enterprises Inc (NYSE:CCE)?
At the end of the fourth quarter, a total of 27 of the hedge funds we track were long in this stock, a change of 13% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were upping their holdings significantly.
Of the funds we track, James Crichton and Adam Weiss’s Scout Capital Management had the biggest position in Coca-Cola Enterprises Inc (NYSE:CCE), worth close to $191 million, accounting for 3.3% of its total 13F portfolio. Sitting at the No. 2 spot is JANA Partners, managed by Barry Rosenstein, which held a $166 million position; the fund has 4.7% of its 13F portfolio invested in the stock. Remaining hedge funds that hold long positions include Phill Gross and Robert Atchinson’s Adage Capital Management, Daniel S. Och’s OZ Management and Dan Loeb’s Third Point.
As aggregate interest increased, some big names were leading the bulls’ herd. OZ Management, managed by Daniel S. Och, initiated the most valuable position in Coca-Cola Enterprises Inc (NYSE:CCE). OZ Management had 102 million invested in the company at the end of the quarter. Robert Pohly’s Samlyn Capital also made a $51 million investment in the stock during the quarter. The other funds with new positions in the stock are Keith Meister’s Corvex Capital, Frank Brosens’s Taconic Capital, and D. E. Shaw’s D E Shaw.
What have insiders been doing with Coca-Cola Enterprises Inc (NYSE:CCE)?
Insider trading activity, especially when it’s bullish, is particularly usable when the company in question has experienced transactions within the past 180 days. Over the last 180-day time frame, Coca-Cola Enterprises Inc (NYSE:CCE) has experienced zero unique insiders buying, and 3 insider sales (see the details of insider trades here).
With the results demonstrated by the aforementioned studies, retail investors must always keep an eye on hedge fund and insider trading activity, and Coca-Cola Enterprises Inc (NYSE:CCE) applies perfectly to this mantra.
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