Brown-Forman (NYSE:BFB) Stock Rating Lowered by Evercore ISI

Evercore ISI cut shares of Brown-Forman (NYSE:BFB) from an in-line rating to an underperform rating in a research report sent to investors on Thursday, September 19th. The analysts noted that the move was a valuation call.

Separately, Barclays boosted their price objective on Brown-Forman from $51.00 to $60.00 and gave the stock an equal weight rating in a research note on Monday, June 10th.

Shares of NYSE BFB traded up $0.66 during midday trading on Thursday, reaching $63.27. 726,284 shares of the stock traded hands. The company’s 50 day moving average is $61.71.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.166 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.05%.

Brown-Forman Company Profile

Brown-Forman Corp. engages in the production and distribution of alcoholic beverages. The firm also offers champagne, liqueur, scotch, tequila, vodka, whiskey and wine. Its brands include Jack Daniel, Finlandia, Herradura, El Jimador, New Mix, Canadian Mist, Chambord, Woodford Reserve, Sonoma Cutrer and Korbel.

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