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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) declared a semi-annual dividend on Monday, April 29th, 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 of this dividend is Thursday, May 9th.

Coca-Cola Europacific Partners has increased its dividend by an average of 24.1% per year over the last three years and has increased its dividend every year for the last 1 years. Coca-Cola Europacific Partners has a dividend payout ratio of 55.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.7 %

Shares of CCEP traded up $0.52 during mid-day trading on Monday, reaching $72.02. 879,530 shares of the company were exchanged, compared to its average volume of 1,519,952. Coca-Cola Europacific Partners has a 52 week low of $56.28 and a 52 week high of $72.67. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72. The business has a 50 day simple moving average of $69.62 and a two-hundred day simple moving average of $65.75.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group lifted their target price on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, February 26th. BNP Paribas upgraded Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 price objective for the company in a report on Friday, January 12th. StockNews.com upgraded Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Argus boosted their price objective on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Barclays boosted their price objective on Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Buy” and an average price target of $75.78.

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.