Constellation Brands, Inc. Announces Quarterly Dividend of $0.75 (NYSE:STZ)

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Constellation Brands, Inc. (NYSE:STZ) announced a quarterly dividend on Wednesday, October 2nd, Zacks reports. Investors of record on Friday, November 8th will be paid a dividend of 0.75 per share on Friday, November 22nd. This represents a $3.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, November 7th.

Shares of Constellation Brands stock opened at $193.92 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.61 and a debt-to-equity ratio of 1.04. Constellation Brands has a twelve month low of $150.37 and a twelve month high of $214.48. The stock has a market cap of $36.60 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.87 and a beta of 0.67. The company’s fifty day moving average is $198.12 and its 200 day moving average is $198.21.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.12. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the firm posted $2.87 earnings per share. Constellation Brands’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands will post 8.45 earnings per share for the current fiscal year.

In other news, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the transaction, the insider now owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.86% of the stock is owned by corporate insiders.

STZ has been the topic of several analyst reports. Morgan Stanley reduced their price objective on shares of Constellation Brands from $227.00 to $214.00 and set an “equal weight” rating on the stock in a research note on Friday, October 4th. Evercore ISI set a $220.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Friday, August 9th. Zacks Investment Research raised shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 price objective on the stock in a research note on Monday, September 23rd. Credit Suisse Group cut their price target on shares of Constellation Brands from $230.00 to $228.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Argus upped their price target on shares of Constellation Brands to $230.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $223.76.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

Further Reading: Float

Dividend History for Constellation Brands (NYSE:STZ)

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