Royal Bank of Canada reiterated their buy rating on shares of Constellation Brands (NYSE:STZ) in a research note published on Thursday, AnalystRatings.com reports. They currently have a $250.00 price target on the stock.
Other research analysts have also issued reports about the stock. Morgan Stanley lifted their price objective on shares of Constellation Brands from $208.00 to $211.00 and gave the company an equal weight rating in a research note on Thursday, January 9th. Credit Suisse Group lifted their price objective on shares of Constellation Brands from $228.00 to $233.00 and gave the company an outperform rating in a research note on Friday, December 13th. Evercore ISI restated a buy rating and issued a $235.00 price objective on shares of Constellation Brands in a research note on Wednesday, December 4th. Cowen reiterated a buy rating and set a $240.00 price target on shares of Constellation Brands in a research note on Friday, December 6th. Finally, Jefferies Financial Group boosted their price target on shares of Constellation Brands from $260.00 to $265.00 and gave the stock a buy rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Constellation Brands currently has an average rating of Hold and a consensus price target of $227.61.
NYSE STZ traded up $2.03 during trading on Thursday, reaching $193.97. The company’s stock had a trading volume of 1,089,700 shares, compared to its average volume of 1,693,550. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.86 and a current ratio of 1.41. The firm has a market cap of $36.78 billion, a price-to-earnings ratio of 46.16, a P/E/G ratio of 2.66 and a beta of 0.64. Constellation Brands has a twelve month low of $163.52 and a twelve month high of $214.48. The business’s fifty day moving average price is $187.39 and its 200-day moving average price is $194.09.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, January 8th. The company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.30. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.95 billion. Constellation Brands had a net margin of 9.21% and a return on equity of 14.15%. Constellation Brands’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.37 earnings per share. As a group, sell-side analysts forecast that Constellation Brands will post 8.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Monday, February 10th. Constellation Brands’s dividend payout ratio is currently 10.02%.
In other news, EVP Robert Lee Hanson sold 4,056 shares of the business’s stock in a transaction that occurred on Thursday, January 9th. The stock was sold at an average price of $195.00, for a total transaction of $790,920.00. Following the sale, the executive vice president now owns 8,591 shares of the company’s stock, valued at approximately $1,675,245. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Eric Klein sold 36,488 shares of the business’s stock in a transaction that occurred on Thursday, January 9th. The stock was sold at an average price of $195.48, for a total value of $7,132,674.24. Following the sale, the chief financial officer now directly owns 45,380 shares in the company, valued at approximately $8,870,882.40. The disclosure for this sale can be found here. Corporate insiders own 15.86% of the company’s stock.
Several large investors have recently made changes to their positions in STZ. Lenox Wealth Management Inc. purchased a new stake in Constellation Brands in the 3rd quarter valued at approximately $25,000. NuWave Investment Management LLC boosted its stake in shares of Constellation Brands by 100.9% during the third quarter. NuWave Investment Management LLC now owns 221 shares of the company’s stock valued at $45,000 after acquiring an additional 111 shares during the last quarter. Doyle Wealth Management acquired a new stake in shares of Constellation Brands during the second quarter valued at $51,000. Horan Capital Advisors LLC. purchased a new stake in Constellation Brands during the 3rd quarter worth about $52,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in Constellation Brands during the 3rd quarter worth about $60,000. 71.94% of the stock is currently owned by institutional investors and hedge funds.
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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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