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.
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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