Constellation Brands (NYSE:STZ) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Constellation Brands (NYSE:STZ) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $280.00 price objective on the stock.

Other analysts have also issued research reports about the company. Evercore ISI cut their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. BMO Capital Markets cut their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. BNP Paribas assumed coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $284.75.

Constellation Brands Stock Down 17.2 %

Constellation Brands stock opened at $181.57 on Friday. Constellation Brands has a 52 week low of $179.55 and a 52 week high of $274.87. The stock has a market cap of $32.97 billion, a price-to-earnings ratio of 58.76, a PEG ratio of 1.69 and a beta of 1.75. The company’s 50-day moving average price is $231.88 and its two-hundred day moving average price is $241.56. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.19 EPS. On average, analysts expect that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by insiders.

Institutional Trading of Constellation Brands

Several large investors have recently added to or reduced their stakes in STZ. Oakworth Capital Inc. boosted its holdings in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares in the last quarter. PFG Investments LLC lifted its position in shares of Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after buying an additional 42 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after acquiring an additional 43 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after acquiring an additional 46 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Constellation Brands by 6.2% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock valued at $221,000 after acquiring an additional 50 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.