Brown-Forman Boosts Earnings Outlook After Beating Q2 Views

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At the end of 09/30/2017 reporting period, 203 institutional holders increased their position in Brown-Forman Corporation (NYSE:BF-B) by some 7,049,496 shares, 192 decreased positions by 6,027,655 and 92 held positions by 83,837,186.

Brown-Forman grew "underlying net sales" by 14 percent during the first half of the company's fiscal year, a "blistering" pace that will surely slow in the second half of the year, chief financial officer Jane Morreau said on the company's quarterly call with stock analysts. The firm had revenue of $914.00 million during the quarter, compared to analyst estimates of $870.60 million. The company has a current ratio of 2.30, a quick ratio of 1.07 and a debt-to-equity ratio of 1.21. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. Brown Forman had a return on equity of 53.63% and a net margin of 17.84%. Brown Forman has a 1-year low of $43.72 and a 1-year high of $67.98.

Institutional investors now hold around $6.01 billion or 46% in BF-B stock.

Brown Forman ( BF.A ) shares were 4% higher Wednesday after the spirits and wine company reported fiscal Q2 earnings of $0.62 per diluted share, up from $0.50 a year ago and better than the $0.53 average estimate from analysts polled by Capital IQ. Zacks Investment Research raised Brown Forman from a "hold" rating to a "buy" rating and set a $57.00 target price for the company in a research report on Thursday, August 31st. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.79 annualized dividend and a yield of 1.33%. The firm has a market cap of $22,610.45, a price-to-earnings ratio of 32.51 and a beta of 0.94. Brown Forman's dividend payout ratio is presently 40.33%.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another domain, it was stolen and reposted in violation of USA and worldwide copyright and trademark law. Including today's unusual volume, Brown-Forman Corporation's stock is performing at 34.68% on the year. It provides spirits, wines, ready-to-drink cocktails, whiskey, vodka, tequilas, champagnes, brandy, and liqueur. The company reported "balanced growth" from its flagship Jack Daniel's brands.