Morgan Stanley reiterated their overweight rating on shares of Constellation Brands Inc. (NYSE:STZ) in a research report released on Saturday morning. Morgan Stanley currently has a $194.00 price objective on the stock, up from their prior price objective of $191.00.
Several other equities analysts have also weighed in on the company. Zacks Investment Research upgraded Constellation Brands from a hold rating to a buy rating and set a $186.00 price target for the company in a research note on Friday, September 16th. Bank of America Corp. restated a buy rating and issued a $185.00 price target on shares of Constellation Brands in a research note on Friday, September 30th. Susquehanna restated a hold rating and issued a $155.00 price target on shares of Constellation Brands in a research note on Tuesday, June 28th. Wells Fargo & Co. restated a buy rating on shares of Constellation Brands in a research note on Thursday, June 30th. Finally, Credit Agricole SA reiterated 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 given a buy rating and one has given a strong buy rating to the stock. Constellation Brands has a consensus rating of Buy and an average price target of $176.75.
Shares of Constellation Brands (NYSE:STZ) opened at 168.84 on Friday. The company has a market capitalization of $33.85 billion, a price-to-earnings ratio of 30.42 and a beta of 0.63. Constellation Brands has a 1-year low of $130.23 and a 1-year high of $173.55. The stock has a 50 day moving average price of $165.62 and a 200 day moving average price of $160.44.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The firm earned $2.02 billion during the quarter. During the same quarter in the prior year, the firm earned $1.56 EPS. Constellation Brands’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities analysts anticipate that Constellation Brands will post $6.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, November 4th. Constellation Brands’s dividend payout ratio (DPR) is 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 transaction of $1,317,360.00. Following the transaction, the executive vice president now directly owns 54,934 shares in the company, valued at $9,045,981.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 9,516 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $166.42, for a total value of $1,583,652.72. Following the transaction, the vice president now owns 88,602 shares in the company, valued at $14,745,144.84. The disclosure for this sale can be found here. Company insiders own 10.63% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STZ. Quadrant Capital Group LLC raised its stake in 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 in the last quarter. Invictus RG bought a new stake in Constellation Brands during the first quarter worth $110,000. PineBridge Investments L.P. raised its stake in 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 in the last quarter. Hanson McClain Inc. raised its stake in 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 in the last quarter. Finally, Daiwa SB Investments Ltd. bought a new stake in Constellation Brands during the second quarter worth $134,000. Institutional investors own 75.05% of the company’s stock.
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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