Constellation Brands Inc. (NYSE:STZ)‘s stock had its “outperform” rating reissued by research analysts at RBC Capital Markets in a research note issued to investors on Wednesday. They presently have a $181.00 price objective on the stock. RBC Capital Markets’ price objective would suggest a potential upside of 5.83% from the stock’s current price.
A number of other equities analysts have also commented on STZ. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 price objective on the stock in a research note on Friday, September 16th. Bank of America Corp. reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Constellation Brands in a research note on Friday, September 30th. Susquehanna reaffirmed a “hold” rating and issued a $155.00 price objective on shares of Constellation Brands in a research note on Tuesday, June 28th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Constellation Brands in a research note on Thursday, June 30th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Constellation Brands in a research note on Thursday, September 15th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands has an average rating of “Buy” and a consensus price target of $175.75.
Constellation Brands (NYSE:STZ) opened at 171.03 on Wednesday. Constellation Brands has a 52 week low of $130.23 and a 52 week high of $173.55. The stock’s 50 day moving average is $165.52 and its 200 day moving average is $160.29. The company has a market capitalization of $34.29 billion, a PE ratio of 30.82 and a beta of 0.63.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.12. The company had revenue of $2.02 billion for the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 earnings per share. Analysts predict that Constellation Brands will post $6.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be issued 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 dividend payout ratio (DPR) is currently 27.49%.
In other Constellation Brands news, EVP William F. Hackett sold 8,000 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $164.67, for a total value of $1,317,360.00. Following the completion of the transaction, the executive vice president now owns 54,934 shares in the company, valued at approximately $9,045,981.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP F Paul Hetterich sold 10,000 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $164.60, for a total value of $1,646,000.00. Following the completion of the transaction, the vice president now 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. Corporate insiders own 10.63% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its position in shares of Constellation Brands by 2.1% in the second quarter. Quadrant Capital Group LLC now owns 678 shares of the company’s stock worth $103,000 after buying an additional 14 shares during the period. Invictus RG acquired a new position in shares of Constellation Brands during the first quarter worth about $110,000. PineBridge Investments L.P. increased its position in shares of Constellation Brands by 331.3% in the second quarter. PineBridge Investments L.P. now owns 690 shares of the company’s stock worth $115,000 after buying an additional 530 shares during the period. Hanson McClain Inc. increased its position in shares of Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock worth $126,000 after buying an additional 2 shares during the period. Finally, Daiwa SB Investments Ltd. acquired a new position in shares of Constellation Brands during the second quarter worth about $134,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.
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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