RBC Capital Markets reaffirmed their outperform rating on shares of Constellation Brands Inc. (NYSE:STZ) in a research report report published on Wednesday morning. The brokerage currently has a $181.00 target price on the stock.
Several other research analysts have also commented on STZ. Zacks Investment Research upgraded Constellation Brands from a sell rating to a hold rating and set a $183.00 price target for the company in a research report on Friday, July 1st. Credit Suisse Group AG began coverage on Constellation Brands in a research report on Thursday, September 15th. They issued a neutral rating and a $178.00 price target for the company. Susquehanna reiterated a hold rating on shares of Constellation Brands in a research report on Monday, August 8th. Royal Bank Of Canada reiterated an outperform rating and issued a $181.00 price target on shares of Constellation Brands in a research report on Wednesday, June 22nd. Finally, Goldman Sachs Group Inc. reiterated a buy rating on shares of Constellation Brands in a research report on Friday, July 15th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Constellation Brands has a consensus rating of Buy and an average target price of $175.27.
Shares of Constellation Brands (NYSE:STZ) traded up 1.4279% on Wednesday, hitting $171.0075. The stock had a trading volume of 1,153,915 shares. The company has a 50-day moving average of $165.36 and a 200-day moving average of $160.21. The company has a market cap of $34.29 billion, a P/E ratio of 30.8122 and a beta of 0.63. Constellation Brands has a 52-week low of $130.23 and a 52-week high of $173.55.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.12. The firm earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 EPS. On average, equities analysts anticipate that Constellation Brands will post $6.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.95%. Constellation Brands’s dividend payout ratio is currently 28.78%.
In other news, VP Thomas J. Mullin sold 9,516 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the sale, the vice president now directly owns 88,602 shares of the company’s stock, valued at $14,745,144.84. The sale 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 business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the sale, the vice president now directly owns 61,404 shares in the company, valued at $10,107,098.40. The disclosure for this sale can be found here. 10.63% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Constellation Brands by 0.7% in the second quarter. FMR LLC now owns 10,667,795 shares of the company’s stock worth $1,764,453,000 after buying an additional 71,739 shares during the period. Vanguard Group Inc. raised its stake in shares of Constellation Brands by 1.8% in the second quarter. Vanguard Group Inc. now owns 10,580,295 shares of the company’s stock worth $1,749,982,000 after buying an additional 191,324 shares during the period. State Street Corp raised its stake in shares of Constellation Brands by 4.7% in the first quarter. State Street Corp now owns 7,326,780 shares of the company’s stock worth $1,107,013,000 after buying an additional 330,670 shares during the period. Lone Pine Capital LLC raised its stake in shares of Constellation Brands by 13.1% in the second quarter. Lone Pine Capital LLC now owns 6,666,012 shares of the company’s stock worth $1,102,558,000 after buying an additional 769,791 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Constellation Brands by 1.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,495,207 shares of the company’s stock worth $743,507,000 after buying an additional 59,720 shares during the period. 75.05% of the stock is currently owned by hedge funds and other institutional investors.
About Constellation Brands
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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