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

Constellation Brands, Inc. (NYSE:STZ) declared a quarterly dividend on Wednesday, October 2nd, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 1.01 per share on Thursday, November 21st. This represents a $4.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, November 5th.

Constellation Brands has increased its dividend payment 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. Research analysts expect Constellation Brands to earn $15.18 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 26.6%.

Constellation Brands Trading Up 0.2 %

NYSE STZ opened at $232.77 on Friday. The company has a market cap of $42.26 billion, a price-to-earnings ratio of 75.33, a price-to-earnings-growth ratio of 1.66 and a beta of 0.88. Constellation Brands has a twelve month low of $231.70 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The business’s fifty day moving average is $245.43 and its 200 day moving average is $249.64.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the business posted $3.70 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Constellation Brands will post 13.57 EPS for the current fiscal year.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,793 shares of company stock valued at $34,300,914. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STZ. UBS Group dropped their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Morgan Stanley cut their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. decreased their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. BMO Capital Markets cut their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Evercore ISI decreased their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

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.