Constellation Brands, Inc. (STZ) to Issue Quarterly Dividend of $1.01 on November 21st

Constellation Brands, Inc. (NYSE:STZ) announced a quarterly dividend on Wednesday, October 2nd, Wall Street Journal reports. Investors of record on Tuesday, November 5th will be given a dividend of 1.01 per share on Thursday, November 21st. This represents a $4.04 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend 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. Equities research 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 Up 1.0 %

NYSE:STZ traded up $2.53 during trading hours on Friday, reaching $246.18. 178,577 shares of the company traded hands, compared to its average volume of 1,176,962. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $246.67 and its two-hundred day moving average price is $253.64. Constellation Brands has a 1 year low of $227.50 and a 1 year high of $274.87. The stock has a market capitalization of $45.05 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.74 and a beta of 1.75.

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

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of the company’s 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock valued at $3,982,922 in the last 90 days. Insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday. Evercore ISI lowered their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday. Finally, UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.63.

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.