A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised Constellation Brands from a hold rating to a buy rating and set a $186.00 price objective for the company in a report on Friday, September 16th. Bank of America Corp. reissued a buy rating and set a $185.00 price objective on shares of Constellation Brands in a report on Friday, September 30th. Susquehanna reissued a hold rating and set a $155.00 price objective on shares of Constellation Brands in a report on Tuesday, June 28th. Wells Fargo & Co. reaffirmed a buy rating on shares of Constellation Brands in a report on Thursday, June 30th. Finally, Morgan Stanley reaffirmed a buy rating on shares of Constellation Brands in a report on Thursday, September 15th. Five 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. The stock presently has an average rating of Buy and an average target price of $181.25.
Shares of Constellation Brands (NYSE:STZ) opened at 171.24 on Thursday. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 30.85 and a beta of 0.63. Constellation Brands has a 1-year low of $130.23 and a 1-year high of $173.55. The firm’s 50-day moving average is $165.79 and its 200-day moving average is $160.75.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.12. The company earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.56 earnings per share. On average, analysts predict that Constellation Brands will post $6.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. Constellation Brands’s payout ratio is currently 27.49%.
In other news, VP Thomas J. Mullin sold 9,516 shares of the business’s 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 completion of the transaction, the vice president now directly owns 88,602 shares in the company, valued at approximately $14,745,144.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas Michael Kane sold 7,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $163.26, for a total value of $1,142,820.00. Following the transaction, the vice president now owns 8,764 shares of the company’s stock, valued at $1,430,810.64. The disclosure for this sale can be found here. Insiders own 10.63% of the company’s stock.
Several institutional investors have recently bought and sold shares of STZ. Nuveen Asset Management LLC raised its position in Constellation Brands by 14.3% in the first quarter. Nuveen Asset Management LLC now owns 207,493 shares of the company’s stock valued at $31,350,000 after buying an additional 25,918 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Constellation Brands during the first quarter valued at about $57,704,000. Redwood Investments LLC acquired a new position in shares of Constellation Brands during the second quarter valued at about $14,966,000. Natixis raised its position in shares of Constellation Brands by 1,155.2% in the first quarter. Natixis now owns 305,995 shares of the company’s stock valued at $46,233,000 after buying an additional 281,616 shares in the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of Constellation Brands by 42.4% in the second quarter. CIBC World Markets Inc. now owns 76,159 shares of the company’s stock valued at $12,597,000 after buying an additional 22,676 shares in the last quarter. Institutional investors 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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