Citigroup Inc. reissued their neutral rating on shares of Constellation Brands Inc. (NYSE:STZ) in a report published on Sunday. They currently have a $191.00 price objective on the stock, up from their prior price objective of $180.00.
A number of other equities research analysts also recently commented on STZ. RBC Capital Markets set a $181.00 price objective on Constellation Brands and gave the company a buy rating in a report on Wednesday, September 28th. Credit Agricole SA reiterated an outperform rating on shares of Constellation Brands in a report on Monday, August 22nd. Bank of America Corp. reiterated a buy rating and issued a $185.00 price objective on shares of Constellation Brands in a report on Friday, September 30th. Zacks Investment Research upgraded Constellation Brands from a hold rating to a buy rating and set a $186.00 price objective for the company in a report on Friday, September 16th. Finally, Morgan Stanley reiterated a buy rating on shares of Constellation Brands in a report on Thursday, September 15th. Five 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 company’s stock. The stock has an average rating of Buy and an average target price of $181.25.
Shares of Constellation Brands (NYSE:STZ) traded down 1.28% during midday trading on Friday, hitting $168.84. The stock had a trading volume of 1,751,101 shares. The company has a market capitalization of $33.85 billion, a PE ratio of 30.42 and a beta of 0.63. Constellation Brands has a one year low of $130.23 and a one year high of $173.55. The firm’s 50-day moving average is $165.62 and its 200 day moving average is $160.44.
Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.12. The company earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 EPS. Equities analysts expect that Constellation Brands will post $6.37 earnings per share 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 given a dividend of $0.40 per share. The ex-dividend date is Friday, November 4th. This represents a $1.60 annualized dividend and a yield of 0.95%. Constellation Brands’s dividend payout ratio (DPR) is presently 27.49%.
In other Constellation Brands news, VP Thomas Michael Kane sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $163.26, for a total value of $1,142,820.00. Following the sale, the vice president now owns 8,764 shares in the company, valued at $1,430,810.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP F Paul Hetterich sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 61,404 shares in the company, 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 have recently added to or reduced their stakes in the stock. Cupps Capital Management LLC acquired a new stake in Constellation Brands during the first quarter valued at about $1,719,000. BB&T Securities LLC raised its stake in Constellation Brands by 54.5% in the first quarter. BB&T Securities LLC now owns 4,018 shares of the company’s stock valued at $607,000 after buying an additional 1,418 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Constellation Brands during the first quarter valued at about $1,390,000. 1832 Asset Management L.P. raised its stake in Constellation Brands by 209.7% in the first quarter. 1832 Asset Management L.P. now owns 42,370 shares of the company’s stock valued at $10,784,000 after buying an additional 28,690 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Constellation Brands by 237.7% in the first quarter. Canada Pension Plan Investment Board now owns 76,011 shares of the company’s stock valued at $11,485,000 after buying an additional 53,500 shares in the last quarter. 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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