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

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 given a dividend of 1.01 per share on Friday, February 21st. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Friday, February 7th.

Constellation Brands has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Constellation Brands to earn $14.58 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 27.7%.

Constellation Brands Trading Down 1.0 %

NYSE STZ opened at $172.72 on Wednesday. The company has a fifty day simple moving average of $212.85 and a two-hundred day simple moving average of $232.73. The stock has a market cap of $31.22 billion, a P/E ratio of 46.43, a P/E/G ratio of 1.59 and a beta of 1.75. Constellation Brands has a 12-month low of $166.02 and a 12-month high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the business earned $3.19 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts forecast that Constellation Brands will post 13.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent research reports. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Evercore ISI dropped their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. UBS Group dropped their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $200.00 in a research report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Insider Activity

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,746 shares of company stock valued at $15,017,097. Company 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.