Brown-Forman (NYSE:BFB) Rating Lowered to Underperform at Evercore ISI

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

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

NYSE:BFB traded up $0.66 during midday trading on Thursday, hitting $63.27. 726,284 shares of the company traded hands. The firm’s 50-day moving average price is $61.71.

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

About Brown-Forman

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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