Brown-Forman - Class B (BF.B) Declares $0.21 Dividend
Brown-Forman - Class B said on May 25, 2023 that its board of directors declared a regular quarterly dividend of $0.21 per share ($0.82 annualized). Previously, the company paid $0.21 per share.
Shares must be purchased before the ex-div date of June 7, 2023 to qualify for the dividend. Shareholders of record as of June 8, 2023 will receive the payment on July 3, 2023.
At the current share price of $61.58 / share, the stock's dividend yield is 1.33%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.12%, the lowest has been 0.86%, and the highest has been 1.50%. The standard deviation of yields is 0.14 (n=235).
The current dividend yield is 1.51 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.54. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1254 funds or institutions reporting positions in Brown-Forman - Class B. This is a decrease of 3 owner(s) or 0.24% in the last quarter. Average portfolio weight of all funds dedicated to BF.B is 0.17%, an increase of 10.72%. Total shares owned by institutions decreased in the last three months by 0.39% to 167,654K shares. 
The put/call ratio of BF.B is 1.05, indicating a bearish outlook.
Analyst Price Forecast Suggests 13.07% Upside
As of May 10, 2023, the average one-year price target for Brown-Forman - Class B is 69.63. The forecasts range from a low of 60.60 to a high of $94.50. The average price target represents an increase of 13.07% from its latest reported closing price of 61.58.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Brown-Forman - Class B is 4,167MM, a decrease of 0.26%. The projected annual non-GAAP EPS is 1.91.
What are Other Shareholders Doing?
Fundsmith LLP holds 12,230K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 12,147K shares, representing an increase of 0.68%. The firm decreased its portfolio allocation in BF.B by 6.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,559K shares representing 1.99% ownership of the company. In it's prior filing, the firm reported owning 9,404K shares, representing an increase of 1.63%. The firm decreased its portfolio allocation in BF.B by 8.15% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 4,267K shares representing 0.89% ownership of the company. In it's prior filing, the firm reported owning 4,227K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in BF.B by 8.39% over the last quarter.
Geode Capital Management holds 4,243K shares representing 0.89% ownership of the company. In it's prior filing, the firm reported owning 4,179K shares, representing an increase of 1.50%. The firm decreased its portfolio allocation in BF.B by 8.12% over the last quarter.
Fundsmith Investment Services holds 4,014K shares representing 0.84% ownership of the company. In it's prior filing, the firm reported owning 3,942K shares, representing an increase of 1.81%. The firm decreased its portfolio allocation in BF.B by 7.81% over the last quarter.
Brown-Forman Background Information
(This description is provided by the company.)
For 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel's Family of Brands, Finlandia, Korbel, el Jimador, Woodford Reserve, Old Forester, Coopers' Craft, Canadian Mist, Herradura, New Mix, Sonoma-Cutrer, Early Times, Chambord, BenRiach, GlenDronach, Slane, and Fords Gin. Brown-Forman's brands are supported by approximately 4,800 employees and sold in more than 170 countries worldwide.
Key filings for this company:
This story originally appeared on Fintel.