Is Coca-Cola Enterprises Inc (CCE) A Good Stock To Buy?

Due to the fact that Coca-Cola Enterprises Inc (NYSE:CCE) has witnessed falling interest from the smart money, it’s easy to see that there is a sect of fund managers that elected to cut their full holdings last quarter. It’s worth mentioning that Daniel S. Och’s OZ Management sold off the biggest position of the 700 funds monitored by Insider Monkey, worth close to $388.6 million in call options. John Lykouretzos’s fund, Hoplite Capital Management, also said goodbye to its call options, about $86.9 million worth of. These transactions are important to note, as total hedge fund interest was cut by 4 funds last quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Coca-Cola Enterprises Inc (NYSE:CCE) but similarly valued. These stocks are Henry Schein, Inc. (NASDAQ:HSIC), Hologic, Inc. (NASDAQ:HOLX), Mosaic Co (NYSE:MOS), and Church & Dwight Co., Inc. (NYSE:CHD). This group of stocks’ market values are closest to CCE’s market value.

As you can see these stocks had an average of 29 hedge funds with bullish positions and the average amount invested in these stocks was $806 million. That figure was $848 million in CCE’s case. Mosaic Co (NYSE:MOS) is the most popular stock in this table. On the other hand Church & Dwight Co., Inc. (NYSE:CHD) is the least popular one with only 18 bullish hedge fund positions. Coca-Cola Enterprises Inc (NYSE:CCE) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MOS might be a better candidate to consider a long position.