Constellation Brands, Inc. (NYSE:STZ) Declares Quarterly Dividend of $0.76

Constellation Brands, Inc. (NYSE:STZ) declared a quarterly dividend on Thursday, April 8th, RTT News reports. Investors of record on Tuesday, May 4th will be paid a dividend of 0.76 per share on Tuesday, May 18th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Monday, May 3rd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.75.

Constellation Brands has raised its dividend by 53.1% over the last three years and has increased its dividend every year for the last 1 years. Constellation Brands has a dividend payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Constellation Brands to earn $10.34 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 29.4%.

Shares of NYSE STZ opened at $224.15 on Friday. The business has a 50-day moving average of $226.56 and a two-hundred day moving average of $210.58. The company has a market capitalization of $43.46 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 3.15 and a beta of 1.12. Constellation Brands has a 1 year low of $151.25 and a 1 year high of $242.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.69 and a quick ratio of 1.01.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 7th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.27. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Constellation Brands had a return on equity of 16.09% and a net margin of 21.63%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 earnings per share. As a group, equities research analysts expect that Constellation Brands will post 9.66 earnings per share for the current year.

Several brokerages have recently issued reports on STZ. Cowen upped their target price on shares of Constellation Brands from $240.00 to $275.00 in a report on Friday, January 8th. Zacks Investment Research downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and set a $242.00 price objective for the company. in a research note on Monday, January 11th. Truist cut Constellation Brands from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a research report on Tuesday, February 16th. JPMorgan Chase & Co. upped their target price on Constellation Brands from $218.00 to $248.00 and gave the company an “overweight” rating in a research report on Monday, December 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Constellation Brands from $220.00 to $244.00 in a research report on Friday, January 8th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $237.60.

About Constellation Brands

Constellation Brands, Inc engages in the production, marketing and distribution of beer, wine and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine and dessert wine-and across all price points.

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Dividend History for Constellation Brands (NYSE:STZ)

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