Brown-Forman (NYSE:BF.B) Shares Down 6.3%

Brown-Forman Co. (NYSE:BF.B)’s share price fell 6.3% during mid-day trading on Thursday . The stock traded as low as $62.39 and last traded at $63.57, 2,667,070 shares changed hands during trading. An increase of 104% from the average session volume of 1,309,227 shares. The stock had previously closed at $67.84.

A number of brokerages have recently commented on BF.B. MKM Partners began coverage on shares of Brown-Forman in a research report on Thursday, September 19th. They issued a “neutral” rating and a $59.00 price objective for the company. Royal Bank of Canada set a $57.00 price objective on shares of Brown-Forman and gave the company a “hold” rating in a research note on Monday, August 26th. Pivotal Research restated a “buy” rating and set a $65.00 target price on shares of Brown-Forman in a research report on Thursday, August 29th. Cfra cut shares of Brown-Forman from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. Finally, Redburn Partners downgraded Brown-Forman from a “buy” rating to a “neutral” rating in a report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $57.13.

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.42 and a current ratio of 3.27. The company has a market cap of $31.83 billion, a PE ratio of 36.75, a PEG ratio of 5.04 and a beta of 0.65. The firm has a fifty day simple moving average of $65.50 and a 200 day simple moving average of $59.51.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.174 per share. This is a positive change from Brown-Forman’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, December 4th. Brown-Forman’s dividend payout ratio is presently 38.15%.

About Brown-Forman (NYSE:BF.B)

Brown-Forman Corporation manufactures, bottles, imports, exports, markets, and sells various alcoholic beverages worldwide. It provides spirits, wines, ready-to-drink cocktails, whiskeys, vodkas, tequilas, champagnes, brandy, and liqueurs. The company offers its products primarily under the Jack Daniel's, Gentleman Jack, Woodford Reserve, Korbel, Finlandia, el Jimador, Herradura, Sonoma-Cutrer, Canadian Mist, GlenDronach, BenRiach, Glenglassaugh, Chambord, Old Forester, Early Times, Pepe Lopez, Antiguo, Slane Irish, and Coopers' Craft brands.

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