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

Constellation Brands, Inc. (NYSE:STZ) announced a quarterly dividend on Thursday, January 9th,RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 1.84%.

Constellation Brands has raised its dividend by an average of 9.0% per year over the last three years. Constellation Brands has a dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 0.3 %

Shares of NYSE STZ opened at $219.17 on Thursday. The stock has a market cap of $39.79 billion, a P/E ratio of 70.93, a PEG ratio of 1.69 and a beta of 1.75. The business’s fifty day simple moving average is $233.17 and its 200-day simple moving average is $242.30. Constellation Brands has a 12-month low of $217.47 and a 12-month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore ISI cut their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Barclays reduced their target price on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price objective on shares of Constellation Brands in a research note on Friday, December 20th. Finally, Truist Financial decreased their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $284.75.

Insider Buying and Selling at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by insiders.

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.