Constellation Brands Inc (NYSE:STZ) announced a quarterly dividend on Monday, October 9th, Wall Street Journal reports. Investors of record on Tuesday, November 7th will be paid a dividend of 0.52 per share on Tuesday, November 21st. This represents a $2.08 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Monday, November 6th.
Constellation Brands has a payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Constellation Brands to earn $9.28 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 22.4%.
Constellation Brands (STZ) opened at $220.76 on Tuesday. Constellation Brands has a 52-week low of $144.00 and a 52-week high of $221.50. The company has a market capitalization of $42,773.38, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.41 and a beta of 0.10. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the company earned $1.77 EPS. Constellation Brands’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts forecast that Constellation Brands will post 8.43 EPS for the current fiscal year.
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In related news, EVP William F. Hackett sold 12,517 shares of Constellation Brands stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry A. Fromberg sold 2,500 shares of Constellation Brands stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total value of $520,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,179 shares of company stock valued at $18,030,434. 15.59% of the stock is owned by insiders.
A number of research firms have recently weighed in on STZ. Royal Bank Of Canada reaffirmed a “buy” rating and set a $226.00 price objective on shares of Constellation Brands in a research report on Sunday. J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 price target (up from $220.00) on shares of Constellation Brands in a report on Friday, October 6th. Citigroup Inc. reissued a “neutral” rating and set a $232.00 target price (up previously from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. Stifel Nicolaus upped their price objective on Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, October 6th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $230.00 price target on shares of Constellation Brands in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $216.00.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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