Morgan Stanley Increases Constellation Brands (STZ) Price Target to $262.00

Constellation Brands (NYSE:STZ) had its price objective lifted by Morgan Stanley from $250.00 to $262.00 in a research report report published on Tuesday morning. The firm currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on STZ. OTR Global raised shares of Constellation Brands to a positive rating in a report on Friday, March 23rd. Credit Suisse Group upped their price objective on shares of Constellation Brands from $211.00 to $226.00 and gave the company a neutral rating in a report on Tuesday, January 9th. Susquehanna Bancshares set a $207.00 price objective on shares of Constellation Brands and gave the company a hold rating in a report on Monday, January 1st. Deutsche Bank started coverage on shares of Constellation Brands in a report on Wednesday, December 13th. They issued a buy rating and a $244.00 price objective for the company. Finally, Zacks Investment Research raised shares of Constellation Brands from a sell rating to a hold rating in a report on Monday, March 26th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Constellation Brands has a consensus rating of Buy and an average target price of $245.77.

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Shares of NYSE STZ opened at $227.19 on Tuesday. The stock has a market capitalization of $44,769.67, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.09. The company has a quick ratio of 0.71, a current ratio of 1.79 and a debt-to-equity ratio of 1.17. Constellation Brands has a 52 week low of $168.44 and a 52 week high of $231.83.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, March 29th. The company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.16. Constellation Brands had a net margin of 27.85% and a return on equity of 22.28%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the business earned $1.48 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. equities research analysts predict that Constellation Brands will post 9.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 1.30%. The ex-dividend date is Wednesday, May 9th. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.52. Constellation Brands’s dividend payout ratio (DPR) is 23.85%.

Constellation Brands declared that its Board of Directors has authorized a stock buyback program on Friday, January 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Barry A. Fromberg sold 2,005 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total value of $441,942.10. Following the completion of the transaction, the director now owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barry A. Fromberg sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $229.22, for a total transaction of $687,660.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,905 shares of company stock valued at $5,218,499. 15.59% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Americafirst Capital Management LLC purchased a new position in shares of Constellation Brands in the third quarter valued at approximately $706,000. AXA boosted its stake in shares of Constellation Brands by 11.5% in the third quarter. AXA now owns 131,902 shares of the company’s stock valued at $26,308,000 after purchasing an additional 13,570 shares during the period. Partners Capital Investment Group Holdings LLC purchased a new position in shares of Constellation Brands in the third quarter valued at approximately $619,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Constellation Brands by 7.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,509 shares of the company’s stock valued at $2,402,000 after purchasing an additional 698 shares during the period. Finally, Syntal Capital Partners LLC purchased a new position in shares of Constellation Brands in the fourth quarter valued at approximately $1,554,000. 74.55% of the stock is owned by institutional investors and hedge funds.

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About Constellation Brands

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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