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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) declared a semi-annual dividend on Thursday, April 25th, Wall Street Journal reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.79 per share on Thursday, May 23rd. This represents a yield of 5.6%. The ex-dividend date of this dividend is Thursday, May 9th.

Coca-Cola Europacific Partners has increased its dividend by an average of 25.8% annually over the last three years. Coca-Cola Europacific Partners has a payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Coca-Cola Europacific Partners to earn $4.51 per share next year, which means the company should continue to be able to cover its $1.59 annual dividend with an expected future payout ratio of 35.3%.

Coca-Cola Europacific Partners Price Performance

Shares of CCEP opened at $73.32 on Wednesday. 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 firm’s 50-day moving average is $70.00 and its two-hundred day moving average is $66.44. Coca-Cola Europacific Partners has a twelve month low of $56.28 and a twelve month high of $73.47.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last posted its earnings results on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.85. As a group, sell-side analysts expect that Coca-Cola Europacific Partners will post 4.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research 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 target price for the company in a research note on Friday, January 12th. StockNews.com raised shares of Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. Argus lifted their price target on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Barclays raised their target price on Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, UBS Group boosted their price target on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Buy” and an average target price 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.