Brown Forman (BF.B) Lowered to "Hold" at Pivotal Research

Brown Forman (BF.B) Lowered to

In terms of earnings per share, 13 analysts have a 0.40 EPS mean target for the quarter ending Apr-17, for the quarter ending Jul-18, 11 analysts have a 0.47 EPS mean target and for the quarter ending Jul-18 there are 16 estimates of 1.74 EPS.

"Against a backdrop of improving economies in the emerging markets, and continued momentum in our categories of focus, our underlying net sales have accelerated nicely due to strong performances from our Jack Daniel's, Woodford Reserve, Old Forester and Herradura brand families, as well as timing-driven improvements in our used barrel sales", said CEO Paul Varga in a statement. Net sales grew 10% to $914 million, above the FactSet consensus of $871.5 million.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. The ex-dividend date is Wednesday, December 6th. This represents a $0.79 annualized dividend and a yield of 1.33%. The biggest holder now is Brown Frazier Owsley who owns 767,082 shares (0.20% of those outstanding), whilst Mr. Campbell P. Brown holds 628,577 (0.16% of shares outstanding) and Brown George Garvin Iv holds 540,790 (0.14% of shares outstanding). Brown Forman's dividend payout ratio is presently 40.33%.

BF.B has been the subject of several other research reports. This company shares are -21.14% up from its target price of $51.93 and the current market capitalization stands at $25.17B. Stifel Nicolaus maintained it with "Buy" rating and $110 target in Thursday, August 27 report. Berenberg Bank reissued a "hold" rating and issued a $46.00 target price on shares of Brown Forman in a research report on Monday, September 18th. SunTrust Banks reaffirmed a "hold" rating and set a $50.00 target price on shares of Brown Forman in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company.

Institutional investors now hold around $6.01 billion or 46% in BF-B stock. The firm has a market cap of $22,610.45, a price-to-earnings ratio of 32.51 and a beta of 0.94. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of USA and worldwide trademark and copyright laws. The original version of this article can be viewed at https://www.thelincolnianonline.com/2017/12/07/brown-forman-bf-b-shares-up-6-2-on-strong-earnings.html.

The biggest institutional shareholders in Brown Forman Corporation include Vanguard Group Inc which owns 14 million shares in the company valued at $693.16 million. The Company manufactures, bottles, imports, exports, markets and sells a range of alcoholic beverages.

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