Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Plans Semi-annual Dividend of $1.34

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) declared a semi-annual dividend on Tuesday, November 5th,Wall Street Journal reports. Stockholders of record on Friday, November 15th will be paid a dividend of 1.34 per share on Tuesday, December 3rd. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79.

Coca-Cola Europacific Partners has raised its dividend payment by an average of 25.8% annually over the last three years. Coca-Cola Europacific Partners has a payout ratio of 57.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Coca-Cola Europacific Partners to earn $4.59 per share next year, which means the company should continue to be able to cover its $2.65 annual dividend with an expected future payout ratio of 57.7%.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ:CCEP traded up $0.26 during trading on Wednesday, reaching $77.16. 170,885 shares of the stock were exchanged, compared to its average volume of 1,388,726. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. Coca-Cola Europacific Partners has a 1-year low of $59.31 and a 1-year high of $82.32. The stock has a fifty day moving average of $78.46 and a two-hundred day moving average of $75.82.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CCEP. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Evercore ISI increased their price target on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target for the company. in a research report on Tuesday, September 10th. Finally, Barclays increased their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average target price of $81.22.

About Coca-Cola Europacific Partners

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.