Wells Fargo & Co reaffirmed their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report released on Thursday, The Fly reports. Wells Fargo & Co currently has a $235.00 price target on the stock, down from their prior price target of $260.00.
STZ has been the subject of several other reports. Morgan Stanley set a $246.00 price target on shares of Constellation Brands and gave the company a buy rating in a report on Thursday, December 20th. Jefferies Financial Group reissued a buy rating and set a $289.00 price target on shares of Constellation Brands in a report on Friday, December 7th. Zacks Investment Research raised shares of Constellation Brands from a hold rating to a buy rating and set a $222.00 price target for the company in a report on Wednesday, December 5th. Susquehanna Bancshares cut their price target on shares of Constellation Brands from $171.00 to $165.00 and set a negative rating for the company in a report on Monday, October 1st. Finally, Bank of America lifted their price target on shares of Constellation Brands from $235.00 to $240.00 and gave the company a buy rating in a report on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $228.09.
Shares of NYSE:STZ traded down $0.72 during midday trading on Thursday, reaching $159.21. 3,834,953 shares of the company’s stock were exchanged, compared to its average volume of 5,391,411. The company has a market capitalization of $28.60 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.57 and a beta of 0.38. Constellation Brands has a 12 month low of $150.37 and a 12 month high of $236.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.76 and a current ratio of 1.66.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, January 9th. The company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.33. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.91 billion. Constellation Brands had a net margin of 35.27% and a return on equity of 18.27%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $2.00 EPS. Sell-side analysts forecast that Constellation Brands will post 9.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 12th will be paid a $0.74 dividend. 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 is presently 10.67%.
In other Constellation Brands news, CEO Robert Sands sold 136,547 shares of the business’s stock in a transaction dated Friday, October 19th. The shares were sold at an average price of $223.62, for a total value of $30,534,640.14. Following the completion of the transaction, the chief executive officer now directly owns 737,607 shares of the company’s stock, valued at $164,943,677.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Richard Sands sold 148,773 shares of the business’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the completion of the transaction, the chairman now directly owns 346,525 shares of the company’s stock, valued at $77,514,177.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 578,723 shares of company stock valued at $129,438,449. Insiders own 15.80% of the company’s stock.
Large investors have recently modified their holdings of the company. Carroll Financial Associates Inc. grew its position in shares of Constellation Brands by 132.0% during the 4th quarter. Carroll Financial Associates Inc. now owns 283 shares of the company’s stock worth $48,000 after buying an additional 161 shares during the period. Atlantic Trust LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $114,000. TLP Group LLC acquired a new stake in shares of Constellation Brands during the 3rd quarter worth approximately $136,000. Truvestments Capital LLC acquired a new stake in shares of Constellation Brands during the 3rd quarter worth approximately $137,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Constellation Brands by 49.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 787 shares of the company’s stock worth $170,000 after buying an additional 260 shares during the period. Institutional investors own 72.56% of the company’s stock.
About Constellation Brands
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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