Brown-Forman (NYSE:BFB) Rating Lowered to Underperform at Evercore ISI

Evercore ISI cut shares of Brown-Forman (NYSE:BFB) from an in-line rating to an underperform rating in a research report sent to investors on Thursday. The analysts noted that the move was a valuation call.

Separately, Barclays boosted their price objective on shares of Brown-Forman from $51.00 to $60.00 and gave the company an equal weight rating in a research report on Monday, June 10th.

Shares of NYSE BFB opened at $63.65 on Thursday.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $0.166 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.04%.

Brown-Forman Company Profile

Brown-Forman Corp. engages in the production and distribution of alcoholic beverages. The firm also offers champagne, liqueur, scotch, tequila, vodka, whiskey and wine. Its brands include Jack Daniel, Finlandia, Herradura, El Jimador, New Mix, Canadian Mist, Chambord, Woodford Reserve, Sonoma Cutrer and Korbel.

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