Constellation Brands, Inc. (NYSE:STZ) announced a quarterly dividend on Thursday, April 8th, RTT News reports. Shareholders of record on Tuesday, May 4th will be given a dividend of 0.76 per share on Tuesday, May 18th. This represents a $3.04 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, May 3rd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.75.
Constellation Brands has raised its dividend payment by 53.1% over the last three years and has increased its dividend every year for the last 1 years. Constellation Brands has a payout ratio of 30.5% indicating that its dividend is sufficiently covered by earnings. 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%.
STZ stock opened at $240.32 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Constellation Brands has a twelve month low of $151.53 and a twelve month high of $243.44. The company’s 50 day moving average is $233.06 and its two-hundred day moving average is $215.86. The stock has a market cap of $46.60 billion, a P/E ratio of 23.40, a PEG ratio of 3.15 and a beta of 1.12.
A number of equities analysts have recently issued reports on the stock. Cowen raised their target price on shares of Constellation Brands from $240.00 to $275.00 in a research report on Friday, January 8th. Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and set a $242.00 target price on the stock. in a research report on Monday, January 11th. Wolfe Research assumed coverage on shares of Constellation Brands in a research report on Monday, April 19th. They set an “outperform” rating and a $265.00 target price on the stock. Morgan Stanley raised their target price on shares of Constellation Brands from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 8th. Finally, Truist lowered shares of 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. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $238.90.
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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