Constellation Brands Inc. (STZ) Declares $0.40 Quarterly Dividend
Constellation Brands Inc. (NYSE:STZ) announced a quarterly dividend on Wednesday, October 5th. Stockholders of record on Tuesday, November 8th will be given a dividend of 0.40 per share on Tuesday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.95%.
Shares of Constellation Brands (NYSE:STZ) opened at 168.60 on Thursday. Constellation Brands has a 12-month low of $130.23 and a 12-month high of $173.55. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 30.38 and a beta of 0.63. The stock has a 50 day moving average of $165.36 and a 200 day moving average of $160.21.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.12. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The business earned $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm posted $1.56 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that Constellation Brands will post $6.30 earnings per share for the current fiscal year.
Several brokerages have issued reports on STZ. RBC Capital Markets reaffirmed an “outperform” rating and set a $181.00 price target on shares of Constellation Brands in a report on Wednesday. Bank of America Corp. reaffirmed a “buy” rating and set a $185.00 price target on shares of Constellation Brands in a report on Friday, September 30th. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a report on Friday, September 16th. Credit Suisse Group AG began coverage on Constellation Brands in a report on Thursday, September 15th. They set a “neutral” rating and a $178.00 target price for the company. Finally, Morgan Stanley reissued a “buy” rating on shares of Constellation Brands in a report on Thursday, September 15th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $175.27.
In other news, VP Thomas Michael Kane sold 7,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the sale, the vice president now directly owns 8,764 shares in the company, valued at $1,430,810.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William F. Hackett sold 8,000 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $164.67, for a total value of $1,317,360.00. Following the sale, the executive vice president now owns 54,934 shares in the company, valued at $9,045,981.78. The disclosure for this sale can be found here. Insiders own 10.63% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in STZ. Segall Bryant & Hamill LLC purchased a new stake in Constellation Brands during the second quarter valued at $215,000. Stratos Wealth Partners LTD. bought a new position in Constellation Brands during the second quarter worth approximately $215,000. Wetherby Asset Management Inc. raised its position in Constellation Brands by 2.4% in the second quarter. Wetherby Asset Management Inc. now owns 1,615 shares of the company’s stock worth $267,000 after buying an additional 38 shares in the last quarter. Meiji Yasuda Life Insurance Co bought a new position in Constellation Brands during the second quarter worth approximately $271,000. Finally, Fiduciary Financial Services of The Southwest Inc. TX bought a new position in Constellation Brands during the second quarter worth approximately $317,000. Institutional investors own 75.05% of the company’s stock.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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