Coca-Cola Europacific Partners PLC (CCEP) To Go Ex-Dividend on November 15th

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) announced a semi-annual dividend on Tuesday, November 5th,Wall Street Journal reports. Stockholders of record on Friday, November 15th will be given 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 boost 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 dividend payout ratio of 57.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of NASDAQ CCEP traded up $0.25 during trading on Wednesday, reaching $77.15. 119,809 shares of the stock traded hands, compared to its average volume of 1,388,494. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. Coca-Cola Europacific Partners has a 52-week low of $59.31 and a 52-week high of $82.32. The company has a 50-day moving average of $78.46 and a 200-day moving average of $75.82.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CCEP shares. Barclays boosted their price target 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, November 7th. BNP Paribas downgraded 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. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target 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. Finally, Evercore ISI increased their price objective on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average 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.