- The shares of Brown Forman (NYSE: BF-A) (NYSE: BF-B) have received a $72 price target from MKM Partners. These are the details.
The shares of Brown Forman (NYSE: BF-A) (NYSE: BF-B) have received a $72 price target from MKM Partners. And MKM Partners analyst Bill Kirk is maintaining a “Neutral” rating on the shares.
Earlier this month, Brown-Forman reported financial results for the fourth quarter and fiscal year ended April 30, 2022. And for the fourth quarter, the company’s reported net sales of $996 million increased 23% (+27% on an organic basis). In the quarter, the company reported operating income increased 46% to $246 million (+62% on an organic basis) and diluted earnings per share increased 26% to $0.31.
For the full year, the company’s reported net sales increased 14% to $3.933 billion (+17% on an organic basis). And the company reported operating income increased 3% to $1.204 billion (+27% on an organic basis) in the fiscal year, while diluted earnings per share decreased 7% to $1.74 primarily due to higher income taxes partially offset by the increase in reported operating income. And the earnings per share in fiscal 2021 included an estimated $0.20 per share benefit from the gain on the sale of the Early Times, Canadian Mist, and Collingwood brands and related assets.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.