Constellation Brands, Inc. (NYSE:STZ) announced a quarterly dividend on Friday, October 5th, Wall Street Journal reports. Investors of record on Tuesday, November 6th will be given a dividend of 0.74 per share on Tuesday, November 20th. This represents a $2.96 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, November 5th.
Constellation Brands has a dividend payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Constellation Brands to earn $10.11 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 29.3%.
Shares of STZ opened at $201.32 on Friday. Constellation Brands has a twelve month low of $196.26 and a twelve month high of $236.62. The firm has a market capitalization of $38.14 billion, a PE ratio of 22.44, a PEG ratio of 1.95 and a beta of 0.08. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.27. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands will post 9.43 earnings per share for the current year.
In other news, Chairman Richard Sands sold 148,773 shares of the company’s stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $223.69, for a total value of $33,279,032.37. Following the transaction, the chairman now directly owns 346,525 shares in the company, valued at $77,514,177.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert Sands sold 136,547 shares of the company’s stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $223.62, for a total transaction of $30,534,640.14. Following the completion of the transaction, the chief executive officer now owns 737,607 shares in the company, valued at $164,943,677.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 578,723 shares of company stock worth $129,438,449. Company insiders own 15.80% of the company’s stock.
STZ has been the topic of several recent analyst reports. Deutsche Bank reduced their target price on shares of Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Bank of America reduced their target price on shares of Constellation Brands from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Cann reduced their target price on shares of Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Pivotal Research reissued a “buy” rating and issued a $265.00 target price on shares of Constellation Brands in a research note on Wednesday, August 15th. Finally, Jefferies Financial Group initiated coverage on shares of Constellation Brands in a research note on Friday, September 7th. They issued a “buy” rating and a $283.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Constellation Brands presently has an average rating of “Buy” and a consensus target price of $246.96.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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