Brown Forman (BF.B) Downgraded by Pivotal Research
Pivotal Research lowered shares of Brown Forman (NYSE:BF.B) from a buy rating to a hold rating in a report published on Thursday, Marketbeat reports. The brokerage currently has $65.00 price objective on the stock, up from their prior price objective of $62.00.
Other research analysts also recently issued reports about the company. Cowen reaffirmed a hold rating and set a $54.00 price target on shares of Brown Forman in a research note on Thursday, October 12th. Royal Bank Of Canada reaffirmed a hold rating and set a $51.00 price target on shares of Brown Forman in a research note on Tuesday, October 3rd. Goldman Sachs Group raised Brown Forman from a sell rating to a neutral rating and set a $56.00 price target on the stock in a research note on Thursday, September 28th. Stifel Nicolaus reaffirmed a hold rating and set a $69.00 price target (up from $49.00) on shares of Brown Forman in a research note on Wednesday. Finally, Berenberg Bank reaffirmed a hold rating and set a $46.00 price target on shares of Brown Forman in a research note on Monday, September 18th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $55.90.
Brown Forman (NYSE:BF.B) traded up $0.47 during mid-day trading on Thursday, reaching $66.48. The company had a trading volume of 963,377 shares, compared to its average volume of 751,205. Brown Forman has a fifty-two week low of $43.72 and a fifty-two week high of $67.98. The company has a current ratio of 2.53, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The firm has a market cap of $25,546.27, a P/E ratio of 34.45 and a beta of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 7th will be issued a dividend of $0.198 per share. This is a positive change from Brown Forman’s previous quarterly dividend of $0.18. This represents a $0.79 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, December 6th. Brown Forman’s payout ratio is currently 41.15%.
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Brown Forman Company Profile
Brown-Forman Corporation is a spirit and wine company. The Company manufactures, bottles, imports, exports, markets and sells a range of alcoholic beverages. The Company has a portfolio of approximately 40 spirit, wine and ready-to-drink cocktail (RTD) brands. Its principal brands include Jack Daniel’s Tennessee Whiskey, Jack Daniel’s RTDs, Jack Daniel’s Tennessee Honey, Gentleman Jack Rare Tennessee Whiskey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Single Barrel Collection, Jack Daniel’s Sinatra Select, Jack Daniel’s Winter Jack, Jack Daniel’s No.
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