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

Constellation Brands, Inc. (NYSE:STZ) declared a quarterly dividend on Wednesday, January 8th,RTT News reports. Shareholders of record on Friday, February 7th will be paid a dividend of 1.01 per share on Friday, February 21st. This represents a $4.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, February 7th.

Constellation Brands has increased its dividend by an average of 9.0% per year over the last three years. Constellation Brands has a payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Constellation Brands to earn $15.18 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 26.6%.

Constellation Brands Stock Down 17.2 %

Shares of NYSE:STZ traded down $37.71 during midday trading on Friday, hitting $181.57. 8,696,409 shares of the company’s stock traded hands, compared to its average volume of 2,890,933. The firm’s fifty day moving average price is $232.90 and its two-hundred day moving average price is $242.14. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands has a twelve month low of $179.55 and a twelve month high of $274.87. The company has a market cap of $32.97 billion, a PE ratio of 58.76, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. The business’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $3.19 earnings per share. On average, equities research analysts anticipate that Constellation Brands will post 13.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Constellation Brands in a research note on Friday. BMO Capital Markets dropped their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. BNP Paribas began coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. TD Cowen dropped their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Barclays cut their target price on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.75.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by company insiders.

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.