Constellation Brands, Inc. (STZ) To Go Ex-Dividend on May 2nd

Constellation Brands, Inc. (NYSE:STZ) declared a quarterly dividend on Thursday, April 11th, Wall Street Journal reports. Investors of record on Friday, May 3rd will be paid a dividend of 1.01 per share on Friday, May 17th. This represents a $4.04 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89.

Constellation Brands has raised its dividend by an average of 5.0% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Constellation Brands has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Constellation Brands to earn $14.94 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 27.0%.

Constellation Brands Stock Performance

Shares of STZ opened at $261.19 on Tuesday. The firm has a fifty day moving average of $260.15 and a 200-day moving average of $248.31. The company has a market cap of $47.75 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands has a 1 year low of $221.81 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business posted $1.98 EPS. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands will post 13.51 earnings per share for the current year.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction dated 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 owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on STZ. UBS Group raised their target price on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Piper Sandler initiated coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. HSBC upped their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. TheStreet cut shares of Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

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.