Constellation Brands Inc. (NYSE:STZ) posted its quarterly earnings data on Wednesday. The company reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. The company earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. Constellation Brands’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 EPS. Constellation Brands updated its FY17 guidance to $6.30-6.45 EPS.
Shares of Constellation Brands (NYSE:STZ) opened at 171.03 on Friday. The firm’s 50-day moving average price is $165.52 and its 200 day moving average price is $160.29. Constellation Brands has a 52-week low of $130.23 and a 52-week high of $173.55. The company has a market capitalization of $34.29 billion, a PE ratio of 30.82 and a beta of 0.63.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $1.60 annualized dividend and a yield of 0.94%. Constellation Brands’s payout ratio is 28.78%.
In other news, VP F Paul Hetterich sold 10,000 shares of Constellation Brands stock in a transaction on Monday, July 11th. The shares were sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the completion of the sale, the vice president now directly owns 61,404 shares in the company, valued at $10,107,098.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William F. Hackett sold 8,000 shares of Constellation Brands stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the sale, the executive vice president now owns 54,934 shares of the company’s stock, valued at $9,045,981.78. The disclosure for this sale can be found here. Insiders own 10.63% of the company’s stock.
Several large investors have recently bought and sold shares of STZ. Banced Corp increased its stake in Constellation Brands by 1.5% in the second quarter. Banced Corp now owns 4,700 shares of the company’s stock valued at $589,000 after buying an additional 70 shares during the last quarter. BlackRock Inc. increased its stake in Constellation Brands by 3.9% in the second quarter. BlackRock Inc. now owns 318,585 shares of the company’s stock valued at $52,694,000 after buying an additional 11,918 shares during the last quarter. US Bancorp DE increased its stake in Constellation Brands by 4.0% in the second quarter. US Bancorp DE now owns 50,372 shares of the company’s stock valued at $8,332,000 after buying an additional 1,960 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Constellation Brands by 4.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,488 shares of the company’s stock valued at $577,000 after buying an additional 164 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in Constellation Brands during the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 75.05% of the company’s stock.
A number of equities research analysts have weighed in on STZ shares. RBC Capital Markets set a $181.00 price target on Constellation Brands and gave the company a “buy” rating in a research report on Wednesday, September 28th. Credit Agricole SA restated an “outperform” rating on shares of Constellation Brands in a research report on Monday, August 22nd. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a research report on Friday, September 16th. Bank of America Corp. restated a “buy” rating and set a $185.00 price target on shares of Constellation Brands in a research report on Friday, September 30th. Finally, Morgan Stanley restated a “buy” rating on shares of Constellation Brands in a research report on Thursday, September 15th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Constellation Brands has a consensus rating of “Buy” and an average price target of $175.75.
About Constellation Brands
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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