Constellation Brands Inc. (NYSE:STZ)‘s stock had its “buy” rating restated by research analysts at Bank of America Corp. in a research report issued on Thursday. They currently have a $195.00 target price on the stock. Bank of America Corp.’s target price would indicate a potential upside of 15.66% from the company’s previous close.
Several other research firms have also weighed in on STZ. Pivotal Research reissued a “buy” rating and set a $200.00 price objective on shares of Constellation Brands in a research note on Thursday. Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. RBC Capital Markets set a $181.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Wells Fargo & Co. reissued an “outperform” rating and set a $185.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 6th. Finally, Credit Agricole SA reaffirmed an “outperform” rating on shares of Constellation Brands in a research note on Monday, August 22nd. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Constellation Brands has an average rating of “Buy” and an average price target of $175.75.
Shares of Constellation Brands (NYSE:STZ) traded up 1.44% on Thursday, hitting $171.03. 2,133,944 shares of the stock traded hands. The firm’s 50 day moving average is $165.36 and its 200 day moving average is $160.21. The firm has a market capitalization of $34.29 billion, a PE ratio of 30.82 and a beta of 0.63. Constellation Brands has a 52 week low of $130.23 and a 52 week high of $173.55.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.12. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. The business had revenue of $2.02 billion for the quarter. During the same period in the previous year, the business earned $1.56 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, analysts expect that Constellation Brands will post $6.30 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. Constellation Brands’s payout ratio is presently 28.78%.
In related news, EVP William F. Hackett sold 8,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the completion of the sale, the executive vice president now owns 54,934 shares of the company’s stock, valued at $9,045,981.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP F Paul Hetterich sold 10,000 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the sale, the vice president now directly owns 61,404 shares of the company’s stock, valued at approximately $10,107,098.40. The disclosure for this sale can be found here. 10.63% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Liberty Capital Management Inc. boosted its stake in Constellation Brands by 1.8% in the third quarter. Liberty Capital Management Inc. now owns 28,215 shares of the company’s stock valued at $4,680,000 after buying an additional 501 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Constellation Brands by 6.5% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,489 shares of the company’s stock valued at $1,080,000 after buying an additional 395 shares in the last quarter. Fulton Bank N.A. boosted its stake in Constellation Brands by 2.2% in the third quarter. Fulton Bank N.A. now owns 1,547 shares of the company’s stock valued at $258,000 after buying an additional 34 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Constellation Brands during the second quarter valued at $1,178,000. Finally, Kentucky Retirement Systems purchased a new stake in Constellation Brands during the second quarter valued at $2,481,000. 75.05% of the stock is owned by institutional investors and hedge funds.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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