Constellation Brands (NYSE:STZ) had its target price trimmed by Morgan Stanley from $246.00 to $207.00 in a research note released on Friday morning, Marketbeat reports. The firm currently has an overweight rating on the stock.
Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group reiterated a buy rating and set a $283.00 price target on shares of Constellation Brands in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded Constellation Brands from a sell rating to a hold rating in a research report on Thursday, September 20th. Guggenheim assumed coverage on Constellation Brands in a research report on Thursday, September 13th. They set a sell rating and a $177.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Constellation Brands from $260.00 to $250.00 and set a buy rating on the stock in a research report on Thursday, September 27th. Finally, Citigroup decreased their price target on Constellation Brands to $168.00 and set a neutral rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $228.09.
Shares of STZ opened at $159.21 on Friday. Constellation Brands has a twelve month low of $150.37 and a twelve month high of $236.62. The stock has a market cap of $28.60 billion, a PE ratio of 18.26, a P/E/G ratio of 1.57 and a beta of 0.38. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, January 9th. The company reported $2.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.33. Constellation Brands had a return on equity of 18.27% and a net margin of 35.27%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts predict that Constellation Brands will post 9.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Monday, February 11th. Constellation Brands’s dividend payout ratio (DPR) is presently 10.67%.
In other news, CEO Robert Sands sold 151,060 shares of the stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $223.67, for a total transaction of $33,787,590.20. Following the completion of the sale, the chief executive officer now owns 737,607 shares of the company’s stock, valued at $164,980,557.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard Sands sold 148,773 shares of the stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $223.69, for a total value of $33,279,032.37. Following the sale, the chairman now directly owns 346,525 shares of the company’s stock, valued at approximately $77,514,177.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 578,723 shares of company stock valued at $129,438,449. Insiders own 15.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in STZ. Carroll Financial Associates Inc. lifted its stake in Constellation Brands by 132.0% in the fourth quarter. Carroll Financial Associates Inc. now owns 283 shares of the company’s stock worth $48,000 after acquiring an additional 161 shares during the period. Atlantic Trust LLC purchased a new stake in Constellation Brands in the second quarter worth $114,000. TLP Group LLC purchased a new stake in Constellation Brands in the third quarter worth $136,000. Truvestments Capital LLC bought a new position in Constellation Brands in the third quarter worth $137,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Constellation Brands by 49.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 787 shares of the company’s stock worth $170,000 after purchasing an additional 260 shares in the last quarter. 72.56% of the stock is owned by institutional investors.
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.
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