Coca-Cola Europacific Partners PLC (CCEP) to Issue Semi-annual Dividend of $0.79 on May 23rd

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) announced a semi-annual dividend on Thursday, April 25th, Wall Street Journal reports. Stockholders of record on Friday, May 10th will be paid 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 increased its dividend payment by an average of 25.8% annually over the last three years. Coca-Cola Europacific Partners has a payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 NASDAQ:CCEP opened at $71.36 on Tuesday. The company’s fifty day moving average is $69.95 and its two-hundred day moving average is $66.33. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72. Coca-Cola Europacific Partners has a 12-month low of $56.28 and a 12-month high of $72.67.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last announced its earnings results on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. Equities research analysts predict that Coca-Cola Europacific Partners will post 4.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CCEP shares. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. BNP Paribas raised shares of Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 target price on the stock in a research report on Friday, January 12th. Finally, Argus increased their target price on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently 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.