Brown Forman (BF.B) Raised to Hold at Societe Generale


"Brown-Forman's second quarter and first half results were excellent on both a reported and underlying basis", said CEO Paul Varga.

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. SunTrust Banks reissued a "hold" rating and issued a $50.00 price objective on shares of Brown Forman in a research note on Friday, October 6th. Goldman Sachs Group Inc upgraded shares of Brown Forman from a "sell" rating to a "neutral" rating and set a $56.00 price objective on the stock in a report on Thursday, September 28th. The business's revenue was up 10.1% compared to the same quarter a year ago. The company has a consensus rating of "Hold" and a consensus price target of $52.40. One 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.

Brown-Forman has reported a net sales increase of 10% to US$1,637 million in the first six months of its 2018 fiscal year, boosted by its Jack Daniel's family of brands. Shareholders of record on Thursday, December 7th will be issued a $0.198 dividend. News surfaced earlier this year that Brown-Forman rejected a takeover offer from Constellation. This represents a $0.79 annualized dividend and a yield of 1.33%. The stock has a market capitalization of $23,910.00, a P/E ratio of 34.30 and a beta of 0.95. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 1.21. Brown Forman's payout ratio is now 40.33%.

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Brown-Forman's Class B common shares are up about 37 percent so far this year, compared to a 17 percent gain for the S&P 500 Index. The correct version of this report can be read at

Brown-Forman faces stiff competition from other big booze companies like Constellation Brands (STZ) - whose portfolio includes Corona, Kim Crawford wines and other spirits - and Diageo (DEO), whose brands include Smirnoff, Tanqueray and Captain Morgan.

Jack Daniel's Tennessee Whiskey (+6%), Tennessee Honey (+8%), Tennessee Fire (+14%), and the brand's RTD offerings (+15%) were all up strongly in the first half of the year.