Constellation Brands Inc to Issue Quarterly Dividend of $0.52 (STZ)
Constellation Brands Inc (NYSE:STZ) declared a quarterly dividend on Monday, October 9th, Wall Street Journal reports. Shareholders of record on Tuesday, November 7th will be given 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 1.00%. The ex-dividend date is Monday, November 6th.
Constellation Brands has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Constellation Brands to earn $9.21 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 22.6%.
Constellation Brands (NYSE:STZ) traded down 0.91% on Monday, reaching $208.19. The company’s stock had a trading volume of 745,499 shares. The firm has a 50 day moving average price of $201.11 and a 200 day moving average price of $186.94. The stock has a market capitalization of $40.72 billion, a P/E ratio of 23.92 and a beta of 0.04. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $213.40.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a net margin of 22.04% and a return on equity of 22.88%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 EPS. On average, equities analysts anticipate that Constellation Brands will post $8.40 EPS for the current year.
Several equities analysts recently weighed in on the stock. UBS AG lifted their target price on shares of Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a report on Friday, June 30th. Citigroup Inc. lifted their target price on shares of Constellation Brands from $211.00 to $232.00 and gave the company a “neutral” rating in a report on Monday. Royal Bank Of Canada restated a “buy” rating and set a $220.00 target price on shares of Constellation Brands in a report on Wednesday, August 2nd. Stifel Nicolaus lifted their target price on shares of Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday. Finally, Cowen and Company restated a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $216.00.
In related news, Director Barry A. Fromberg sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the sale, the director now owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Insiders sold a total of 79,351 shares of company stock valued at $15,484,172 in the last three months. Insiders own 15.59% of the company’s stock.
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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