Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Announces $0.79 Semi-annual Dividend

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) announced a semi-annual dividend on Monday, April 29th, Wall Street Journal reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.79 per share on Thursday, May 23rd. This represents a dividend yield of 5.6%. The ex-dividend date is Thursday, May 9th.

Coca-Cola Europacific Partners has raised its dividend payment by an average of 24.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Coca-Cola Europacific Partners has a dividend payout ratio of 55.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Coca-Cola Europacific Partners to earn $4.53 per share next year, which means the company should continue to be able to cover its $2.54 annual dividend with an expected future payout ratio of 56.1%.

Coca-Cola Europacific Partners Trading Up 0.7 %

Shares of CCEP stock traded up $0.52 on Monday, reaching $72.02. The stock had a trading volume of 879,530 shares, compared to its average volume of 1,519,952. Coca-Cola Europacific Partners has a 1 year low of $56.28 and a 1 year high of $72.67. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.72 and a current ratio of 0.91. The company has a 50 day simple moving average of $69.62 and a 200 day simple moving average of $65.75.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.85. Equities analysts forecast that Coca-Cola Europacific Partners will post 4.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BNP Paribas upgraded Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 price target on the stock in a research note on Friday, January 12th. Barclays lifted their target price on Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group lifted their target price on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Argus lifted their target price on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $75.78.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. It offers flavours, mixers, and energy drinks; soft drinks, waters, enhanced water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.