Constellation Brands, Inc. (NYSE:STZ) Declares Quarterly Dividend of $1.02

Constellation Brands, Inc. (NYSE:STZ) declared a quarterly dividend on Friday, April 11th, Wall Street Journal reports. Stockholders of record on Tuesday, April 29th will be paid a dividend of 1.02 per share on Thursday, May 15th. This represents a $4.08 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, April 29th. This is a 1.0% increase from Constellation Brands’s previous quarterly dividend of $1.01.

Constellation Brands has increased its dividend payment by an average of 9.0% per year over the last three years. Constellation Brands has a payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Constellation Brands to earn $14.44 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 28.0%.

Constellation Brands Price Performance

STZ stock traded up $0.88 during trading hours on Friday, hitting $185.63. 3,753,002 shares of the stock traded hands, compared to its average volume of 2,910,781. The stock has a 50-day simple moving average of $176.60 and a 200 day simple moving average of $209.49. The company has a market cap of $33.55 billion, a P/E ratio of 49.90, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands has a one year low of $160.46 and a one year high of $270.18. 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 posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm posted $2.26 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts forecast that Constellation Brands will post 13.5 earnings per share for the current year.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Constellation Brands stock. Brighton Jones LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,001 shares of the company’s stock after purchasing an additional 187 shares during the quarter. Brighton Jones LLC’s holdings in Constellation Brands were worth $221,000 as of its most recent filing with the SEC. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada cut their target price on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Roth Capital cut their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Evercore ISI decreased their target price on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Barclays cut their price target on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $215.00 price objective on shares of Constellation Brands in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.86.

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.