Constellation Brands, Inc. (STZ) to Distribute Quarterly Dividend of $1.01 on August 23rd

Constellation Brands, Inc. (NYSE:STZ) declared a quarterly dividend on Wednesday, July 3rd, RTT News reports. Investors 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 1.61%.

Constellation Brands has raised 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% indicating that its dividend is sufficiently covered by earnings. 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 Down 3.3 %

NYSE STZ opened at $250.37 on Friday. Constellation Brands has a 1 year low of $227.50 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market capitalization of $45.81 billion, a PE ratio of 26.69, a P/E/G ratio of 1.66 and a beta of 0.87. The company has a fifty day moving average of $254.99 and a 200 day moving average of $254.00.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. Constellation Brands’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.91 earnings per share. Research analysts forecast that Constellation Brands will post 13.67 earnings per share for the current year.

Insider Activity

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was 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 of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the 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 sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock worth $12,582,321 over the last ninety days. Corporate insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on STZ. Barclays cut their price target on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Bank of America raised their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, May 28th. Piper Sandler started coverage on Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Finally, BMO Capital Markets boosted 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. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $298.63.

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.