“We rate STZ OW, as we believe the market is not appropriately discounting the company’s strong LT growth prospects in beer.”,” the firm’s analyst wrote.
A number of other brokerages also recently commented on STZ. Goldman Sachs Group Inc. restated a buy rating on shares of Constellation Brands in a research note on Friday, July 15th. Susquehanna restated a hold rating on shares of Constellation Brands in a research note on Monday, August 8th. Wells Fargo & Co. restated an outperform rating and issued a $185.00 target price on shares of Constellation Brands in a research note on Wednesday, July 6th. SunTrust Banks Inc. reiterated a buy rating and set a $180.00 price target on shares of Constellation Brands in a research report on Friday, June 3rd. Finally, Zacks Investment Research downgraded Constellation Brands from a buy rating to a hold rating in a research report on Wednesday, June 8th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands has an average rating of Buy and an average price target of $174.46.
Constellation Brands (NYSE:STZ) opened at 162.85 on Thursday. Constellation Brands has a 52-week low of $122.35 and a 52-week high of $168.68. The stock’s 50 day moving average price is $164.79 and its 200 day moving average price is $158.48. The company has a market cap of $32.65 billion, a P/E ratio of 29.34 and a beta of 0.72.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, June 30th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The firm had revenue of $1.87 billion for the quarter. During the same quarter in the previous year, the company earned $1.26 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts expect that Constellation Brands will post $6.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Monday, August 8th. Constellation Brands’s dividend payout ratio (DPR) is 28.78%.
In other news, VP Thomas J. Mullin sold 9,516 shares of Constellation Brands stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the sale, the vice president now owns 88,602 shares in the company, valued at $14,745,144.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Eric Klein sold 14,300 shares of Constellation Brands stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $166.27, for a total value of $2,377,661.00. Following the sale, the chief financial officer now owns 36,152 shares in the company, valued at approximately $6,010,993.04. The disclosure for this sale can be found here. Company insiders own 10.63% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Constellation Brands during the second quarter worth approximately $1,178,000. Kentucky Retirement Systems purchased a new stake in Constellation Brands during the second quarter worth approximately $2,481,000. Mason Street Advisors LLC purchased a new stake in Constellation Brands during the second quarter worth approximately $3,930,000. Howe & Rusling Inc. boosted its stake in Constellation Brands by 3.7% in the second quarter. Howe & Rusling Inc. now owns 8,251 shares of the company’s stock worth $1,365,000 after buying an additional 296 shares during the period. Finally, Hanson McClain Inc. boosted 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 during the period. Institutional investors and hedge funds 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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