Constellation Brands, Inc. (NYSE:STZ – Get Rating) declared a quarterly dividend on Thursday, April 7th, RTT News reports. Shareholders of record on Thursday, May 5th will be given a dividend of 0.80 per share on Thursday, May 19th. This represents a $3.20 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, May 4th. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.14.
Constellation Brands has increased its dividend by an average of 3.4% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Constellation Brands has a dividend payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Constellation Brands to earn $13.00 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 24.6%.
STZ opened at $246.09 on Monday. The stock has a market capitalization of $46.70 billion, a PE ratio of -1,367.17, a P/E/G ratio of 2.07 and a beta of 1.20. Constellation Brands has a one year low of $207.35 and a one year high of $261.52. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.65 and a current ratio of 1.23. The business’s 50 day moving average price is $231.61 and its 200 day moving average price is $232.94.
STZ has been the topic of a number of research analyst reports. Truist Financial boosted their price target on shares of Constellation Brands from $213.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, April 8th. Credit Suisse Group lifted their price objective on Constellation Brands from $278.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, April 8th. Argus boosted their price target on shares of Constellation Brands from $272.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, January 7th. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $240.00 target price for the company in a report on Monday, March 21st. Finally, Morgan Stanley dropped their price target on shares of Constellation Brands from $299.00 to $294.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $271.78.
In other news, Director Jeremy S. G. Fowden sold 7,574 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $240.38, for a total value of $1,820,638.12. Following the completion of the sale, the director now directly owns 18,501 shares of the company’s stock, valued at approximately $4,447,270.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas Michael Kane sold 1,601 shares of Constellation Brands stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $249.34, for a total value of $399,193.34. Following the completion of the sale, the executive vice president now owns 4,692 shares in the company, valued at $1,169,903.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,035 shares of company stock worth $5,489,358. Insiders own 15.77% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new position in Constellation Brands in the 4th quarter valued at approximately $164,000. Albion Financial Group UT raised its stake in shares of Constellation Brands by 272.2% during the 4th quarter. Albion Financial Group UT now owns 912 shares of the company’s stock worth $229,000 after buying an additional 667 shares during the last quarter. Titleist Asset Management LTD. purchased a new position in Constellation Brands during the 4th quarter valued at about $250,000. Horizon Investments LLC raised its position in Constellation Brands by 9.0% during the fourth quarter. Horizon Investments LLC now owns 1,226 shares of the company’s stock worth $307,000 after acquiring an additional 101 shares during the last quarter. Finally, Colony Group LLC lifted its holdings in shares of Constellation Brands by 47.1% in the fourth quarter. Colony Group LLC now owns 2,045 shares of the company’s stock valued at $513,000 after purchasing an additional 655 shares in the last quarter. Institutional investors own 68.82% of the company’s stock.
About Constellation Brands (Get Rating)
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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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