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

Constellation Brands, Inc. (NYSE:STZ) announced a quarterly dividend on Thursday, January 9th,RTT News reports. Shareholders of record on Friday, February 7th will be given 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 raised 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. 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 company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market cap of $39.79 billion, a price-to-earnings ratio of 70.93, a PEG ratio of 1.69 and a beta of 1.75. The company’s 50-day moving average price is $232.90 and its 200 day moving average price is $242.14. Constellation Brands has a 52 week low of $217.47 and a 52 week high of $274.87.

Analyst Ratings Changes

STZ has been the topic of several recent research reports. BNP Paribas initiated coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a research note on Friday, December 20th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, BMO Capital Markets reduced their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $284.75.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 in the last three months. Corporate insiders own 12.19% of the company’s stock.

About Constellation Brands

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.