Constellation Brands Inc (NYSE:STZ) had its price target upped by Royal Bank Of Canada from $222.00 to $226.00 in a report published on Friday, October 6th, MarketBeat reports. The brokerage currently has an outperform rating on the stock.
Several other brokerages have also commented on STZ. Stifel Nicolaus lifted their target price on Constellation Brands from $216.00 to $235.00 and gave the stock a buy rating in a research report on Friday, October 6th. SunTrust Banks, Inc. reissued a buy rating and issued a $230.00 price target on shares of Constellation Brands in a report on Friday, October 6th. Susquehanna Bancshares Inc set a $200.00 price target on Constellation Brands and gave the stock a hold rating in a report on Thursday, October 5th. Pivotal Research lifted their target price on Constellation Brands from $250.00 to $265.00 and gave the company a buy rating in a research note on Thursday, October 5th. Finally, Macquarie began coverage on Constellation Brands in a research note on Thursday, September 14th. They set an outperform rating and a $227.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $216.00.
Constellation Brands (NYSE STZ) opened at 210.45 on Friday. Constellation Brands has a 52-week low of $144.00 and a 52-week high of $213.40. The firm’s 50-day moving average is $202.77 and its 200-day moving average is $188.88. The company has a market cap of $41.17 billion, a PE ratio of 24.18 and a beta of 0.04.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Constellation Brands will post $8.42 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Monday, November 6th. Constellation Brands’s dividend payout ratio (DPR) is presently 23.85%.
In other news, insider William A. Newlands sold 2,935 shares of Constellation Brands stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $210.10, for a total value of $616,643.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. Insiders sold a total of 77,786 shares of company stock valued at $15,251,456 in the last 90 days. 15.59% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its stake in Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after acquiring an additional 193 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Constellation Brands during the first quarter worth $117,000. North Star Investment Management Corp. lifted its holdings in shares of Constellation Brands by 11.6% during the second quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after purchasing an additional 78 shares during the period. Hanson McClain Inc. lifted its holdings in shares of Constellation Brands by 0.4% during the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after purchasing an additional 3 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in shares of Constellation Brands by 609.1% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after purchasing an additional 670 shares during the period. 74.90% of the stock is currently owned by institutional investors and hedge funds.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. 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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