Constellation Brands Inc (NYSE:STZ) to Issue Quarterly Dividend of $1.02

Constellation Brands Inc (NYSE:STZ - Get Free Report) declared a quarterly dividend on Thursday, July 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, July 30th will be paid a dividend of 1.02 per share on Thursday, August 14th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Wednesday, July 30th.

Constellation Brands has a payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Constellation Brands to earn $14.44 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 28.3%.

Constellation Brands Trading Down 0.7%

STZ stock traded down $1.26 during mid-day trading on Friday, reaching $172.61. The company's stock had a trading volume of 1,808,258 shares, compared to its average volume of 1,910,866. Constellation Brands has a 12 month low of $159.35 and a 12 month high of $264.45. The company has a current ratio of 1.07, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The business's 50 day moving average price is $177.11 and its 200 day moving average price is $183.64. The company has a market cap of $30.73 billion, a price-to-earnings ratio of -72.22, a price-to-earnings-growth ratio of 9.57 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the business posted $3.57 earnings per share. The company's revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities research analysts predict that Constellation Brands will post 13.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STZ. Morgan Stanley reduced their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Royal Bank Of Canada dropped their price target on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. UBS Group boosted their price objective on Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday. Citigroup increased their price objective on Constellation Brands from $170.00 to $174.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, DA Davidson cut their target price on Constellation Brands from $272.00 to $241.00 in a research report on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $213.35.

Insider Activity

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 12.45% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Constellation Brands stock. Brighton Jones LLC raised its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,001 shares of the company's stock after buying an additional 187 shares during the quarter. Brighton Jones LLC's holdings in Constellation Brands were worth $221,000 at the end of the most recent quarter. Institutional investors own 77.34% of the company's stock.

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.