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

Constellation Brands, Inc. (NYSE:STZ) announced a quarterly dividend on Tuesday, July 2nd, RTT News reports. Shareholders 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 yield of 1.67%. The ex-dividend date is Wednesday, August 14th.

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 26.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Constellation Brands to earn $15.14 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 26.7%.

Constellation Brands Stock Up 0.6 %

Shares of STZ opened at $241.41 on Monday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands has a 12 month low of $227.50 and a 12 month high of $274.87. The stock’s 50 day moving average is $251.70 and its two-hundred day moving average is $254.24. The firm has a market cap of $44.17 billion, a P/E ratio of 17.99, a PEG ratio of 1.62 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 earnings per share. Analysts predict that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STZ shares. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a research note on Monday, April 15th. BMO Capital Markets reissued an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. JPMorgan Chase & Co. boosted their price objective on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 31st. Finally, Roth Mkm lowered their price objective on Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research note on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $300.28.

Insider Activity at Constellation Brands

In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Company insiders own 12.19% of the company’s stock.

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.