Constellation Brands, Inc. (NYSE:STZ) Plans Quarterly Dividend of $1.01

Constellation Brands, Inc. (NYSE:STZ) announced a quarterly dividend on Wednesday, July 3rd, RTT News reports. Stockholders of record on Wednesday, August 14th will be paid a dividend of 1.01 per share on Friday, August 23rd. This represents a $4.04 annualized dividend and a dividend yield of 1.56%.

Constellation Brands has increased its dividend by an average of 5.0% annually over the last three years. Constellation Brands has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Constellation Brands to earn $15.08 per share next year, which means the company should continue to be able to cover its $4.04 annual dividend with an expected future payout ratio of 26.8%.

Constellation Brands Trading Up 0.1 %

NYSE STZ traded up $0.19 during trading hours on Wednesday, hitting $259.13. 727,675 shares of the company were exchanged, compared to its average volume of 1,187,775. The stock has a market cap of $47.42 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. The stock has a 50-day moving average price of $255.27 and a 200 day moving average price of $253.86. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the business earned $2.91 earnings per share. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. Analysts forecast that Constellation Brands will post 13.67 earnings per share for the current fiscal year.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the transaction, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock valued at $12,582,321 over the last ninety days. Insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, May 28th. UBS Group cut their target price on Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. BMO Capital Markets increased their price target on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Barclays cut their price target on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Finally, Piper Sandler started coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target on the stock. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.37.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.