Constellation Brands, Inc. (NYSE:STZ) Declares $1.01 Quarterly Dividend

Constellation Brands, Inc. (NYSE:STZ) declared a quarterly dividend on Wednesday, October 2nd, Wall Street Journal reports. Investors of record on Tuesday, November 5th will be paid a dividend of 1.01 per share on Thursday, November 21st. This represents a $4.04 annualized dividend and a yield of 1.64%. The ex-dividend date is Tuesday, November 5th.

Constellation Brands has increased its dividend by an average of 5.0% per year over the last three years. Constellation Brands has a dividend payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Constellation Brands to earn $15.09 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 Stock Performance

NYSE STZ traded up $2.53 on Friday, hitting $246.18. 178,577 shares of the company’s stock traded hands, compared to its average volume of 1,176,962. The firm’s 50-day moving average price is $246.67 and its two-hundred day moving average price is $253.64. The firm has a market capitalization of $45.05 billion, a PE ratio of 18.35, a P/E/G ratio of 1.74 and a beta of 1.75. 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 1-year low of $227.50 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.21. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.70 earnings per share. As a group, analysts expect that Constellation Brands will post 13.53 EPS for the current year.

Insider Activity

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Truist Financial decreased their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Friday. Finally, Roth Mkm restated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $296.63.

Constellation Brands Company Profile

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.