Constellation Brands (STZ) Rating Increased to Buy at ValuEngine

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ValuEngine upgraded shares of Constellation Brands (NYSE:STZ) from a hold rating to a buy rating in a report released on Friday.

Several other equities research analysts have also commented on the stock. Citigroup boosted their target price on shares of Constellation Brands from $235.00 to $240.00 and gave the stock a hold rating in a research report on Wednesday. Pivotal Research restated a buy rating and set a $300.00 target price (up from $265.00) on shares of Constellation Brands in a research report on Friday, October 5th. Morgan Stanley set a $255.00 target price on shares of Constellation Brands and gave the stock a buy rating in a research report on Friday, October 5th. Macquarie set a $245.00 target price on shares of Constellation Brands and gave the stock a buy rating in a research report on Friday, October 5th. Finally, Barclays set a $257.00 target price on shares of Constellation Brands and gave the stock a buy rating in a research report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $246.53.

STZ traded up $7.92 during trading on Friday, hitting $225.69. The stock had a trading volume of 2,965,834 shares, compared to its average volume of 1,925,918. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.77 and a current ratio of 1.81. The stock has a market capitalization of $41.23 billion, a P/E ratio of 25.88, a P/E/G ratio of 2.13 and a beta of 0.01. Constellation Brands has a twelve month low of $198.85 and a twelve month high of $236.62.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 4th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.60 by $0.27. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. Constellation Brands had a net margin of 31.51% and a return on equity of 19.81%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 EPS. Sell-side analysts predict that Constellation Brands will post 9.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 10.67%.

Several institutional investors have recently added to or reduced their stakes in STZ. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Constellation Brands during the third quarter worth $381,000. Pittenger & Anderson Inc. lifted its stake in Constellation Brands by 11.9% during the third quarter. Pittenger & Anderson Inc. now owns 25,793 shares of the company’s stock worth $5,561,000 after purchasing an additional 2,745 shares during the last quarter. MAI Capital Management lifted its stake in Constellation Brands by 8.4% during the third quarter. MAI Capital Management now owns 8,198 shares of the company’s stock worth $1,768,000 after purchasing an additional 633 shares during the last quarter. Sky Investment Group LLC bought a new position in Constellation Brands during the third quarter worth $1,810,000. Finally, Montecito Bank & Trust lifted its stake in Constellation Brands by 16.6% during the third quarter. Montecito Bank & Trust now owns 2,038 shares of the company’s stock worth $439,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

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 provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

Read More: Book Value Of Equity Per Share – BVPS Explained

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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