Constellation Brands (STZ) Upgraded at OTR Global

OTR Global upgraded shares of Constellation Brands (NYSE:STZ) to a positive rating in a research report sent to investors on Friday.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank boosted their target price on Constellation Brands from $253.00 to $256.00 and gave the stock a buy rating in a research report on Friday. Societe Generale upgraded Constellation Brands from a hold rating to a buy rating in a research report on Tuesday, March 20th. Zacks Investment Research cut Constellation Brands from a hold rating to a sell rating in a research report on Tuesday, March 13th. Vetr upgraded Constellation Brands from a buy rating to a strong-buy rating and set a $238.15 target price on the stock in a research report on Monday, February 12th. Finally, BMO Capital Markets started coverage on Constellation Brands in a research note on Monday, February 5th. They set an outperform rating and a $275.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $238.34.

Constellation Brands (NYSE STZ) opened at $220.92 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.54 and a current ratio of 1.40. Constellation Brands has a 52-week low of $160.53 and a 52-week high of $231.83. The stock has a market capitalization of $43,015.34, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.24 and a beta of 0.14.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.13. Constellation Brands had a return on equity of 22.04% and a net margin of 22.55%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm posted $1.96 EPS. sell-side analysts forecast that Constellation Brands will post 8.55 earnings per share for the current fiscal year.

Constellation Brands announced that its board has initiated a share repurchase plan on Friday, January 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

In related news, Director Barry A. Fromberg sold 2,005 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $220.42, for a total value of $441,942.10. Following the sale, the director now owns 20,790 shares of the company’s stock, valued at approximately $4,582,531.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 15.59% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Constellation Brands by 11,394.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,183,937 shares of the company’s stock worth $270,612,000 after purchasing an additional 1,173,637 shares during the period. KAMES CAPITAL plc lifted its stake in shares of Constellation Brands by 3,223.4% during the 4th quarter. KAMES CAPITAL plc now owns 326,658 shares of the company’s stock worth $74,671,000 after purchasing an additional 316,829 shares during the period. Truepoint Inc. purchased a new position in shares of Constellation Brands during the 3rd quarter worth $294,000. Carillon Tower Advisers Inc. purchased a new position in shares of Constellation Brands during the 4th quarter worth $42,199,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Constellation Brands by 501.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 200,770 shares of the company’s stock worth $40,212,000 after purchasing an additional 167,385 shares during the period. 74.53% of the stock is currently owned by hedge funds and other institutional investors.

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Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It offers beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico brands; wine under the Black Box, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Meiomi, Mount Veeder, Nobilo, Robert Mondavi, Ruffino, Saved, Simi, The Dreaming Tree, The Prisoner, Charles Smith, and Wild Horse brands; and sprits under the SVEDKA vodka, Black Velvet Canadian whisky, Casa Noble tequila, High West craft whisky brands.

Analyst Recommendations for Constellation Brands (NYSE:STZ)

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