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

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

Constellation Brands has increased its dividend payment by an average of 9.0% annually 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 Price Performance

Shares of NYSE STZ opened at $219.17 on Friday. The firm has a 50-day simple moving average of $232.90 and a 200-day simple moving average of $242.14. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $39.79 billion, a price-to-earnings ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. Constellation Brands has a 52 week low of $217.47 and a 52 week high of $274.87.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a research note on Friday, December 20th. Bank of America reiterated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Barclays dropped 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. Roth Mkm reiterated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Finally, Truist Financial dropped their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $284.75.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 in the last quarter. 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.