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

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 yield of 1.61%.

Constellation Brands has increased its dividend 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. Equities 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 Stock Down 3.3 %

Shares of NYSE:STZ opened at $250.37 on Thursday. The company’s fifty day moving average is $255.22 and its two-hundred day moving average is $254.02. 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 $227.50 and a 1-year high of $274.87. The stock has a market capitalization of $45.81 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.91 EPS. Equities analysts anticipate that Constellation Brands will post 13.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STZ. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $296.00 to $291.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Bank of America raised their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, May 28th. Jefferies Financial Group raised their price target on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.63.

Insiders Place Their Bets

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s 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 of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 value of $4,160,345.03. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,031 shares of company stock worth $12,582,321. Corporate 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.