Constellation Brands Inc (NYSE:STZ) had its target price upped by analysts at Morgan Stanley from $218.00 to $245.00 in a report released on Friday, October 6th. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 15.68% from the stock’s previous close.
STZ has been the subject of a number of other research reports. Susquehanna Bancshares Inc set a $200.00 price target on Constellation Brands and gave the company a “hold” rating in a report on Thursday, October 5th. Stifel Nicolaus boosted their price target on Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 6th. Royal Bank Of Canada upped their target price on Constellation Brands from $222.00 to $226.00 and gave the stock an “outperform” rating in a report on Friday, October 6th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $230.00 price target on shares of Constellation Brands in a research report on Friday, October 6th. Finally, Macquarie assumed coverage on Constellation Brands in a research report on Thursday, September 14th. They issued an “outperform” rating and a $227.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $216.00.
Constellation Brands (STZ) opened at 211.79 on Friday. The company has a 50 day moving average price of $203.82 and a 200-day moving average price of $189.76. Constellation Brands has a 1-year low of $144.00 and a 1-year high of $214.53. The firm has a market capitalization of $41.43 billion, a price-to-earnings ratio of 24.33 and a beta of 0.04.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts forecast that Constellation Brands will post $8.42 EPS for the current fiscal year.
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In other Constellation Brands news, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $209.45, for a total value of $10,472,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry A. Fromberg sold 2,500 shares of the firm’s 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 122,786 shares of company stock valued at $24,740,206 in the last quarter. 15.59% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in STZ. BlackRock Inc. lifted its position in Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock valued at $1,880,863,000 after acquiring an additional 11,264,949 shares during the last quarter. Janus Henderson Group PLC increased its stake in Constellation Brands by 4,909.6% in the second quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock valued at $219,829,000 after purchasing an additional 1,112,065 shares during the period. The Manufacturers Life Insurance Company increased its stake in Constellation Brands by 488.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock valued at $231,093,000 after purchasing an additional 990,152 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in Constellation Brands in the first quarter valued at $132,686,000. Finally, Marshall Wace North America L.P. acquired a new position in Constellation Brands in the first quarter valued at $132,686,000. 74.90% of the stock is owned by hedge funds and other institutional investors.
About Constellation Brands
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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