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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) announced a semi-annual dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Friday, November 15th will be given a dividend of 1.34 per share on Tuesday, December 3rd. This represents a 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% per year over the last three years. Coca-Cola Europacific Partners has a dividend payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Coca-Cola Europacific Partners to earn $4.64 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 34.5%.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP traded up $0.63 during midday trading on Friday, hitting $77.89. The stock had a trading volume of 1,761,017 shares, compared to its average volume of 1,394,873. The stock’s 50 day moving average is $78.70 and its 200 day moving average is $75.58. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. Coca-Cola Europacific Partners has a 1 year low of $59.31 and a 1 year high of $82.32.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCEP. BNP Paribas cut shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target on the stock. in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI raised their price target on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Two research 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 stock. According to data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and an average target price of $81.22.

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.