Constellation Brands, Inc. (NYSE:STZ)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $174.14, but opened at $171.77. Constellation Brands shares last traded at $171.76, with a volume of 1,490,084 shares.
The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. Constellation Brands had a return on equity of 19.07% and a net margin of 16.65%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be given a $0.52 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.40. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, May 8th. Constellation Brands’s payout ratio is currently 24.73%.
A number of equities research analysts recently commented on the company. Susquehanna Bancshares Inc set a $147.00 target price on Constellation Brands and gave the stock a “hold” rating in a research report on Saturday, February 25th. Credit Suisse Group AG set a $182.00 price objective on Constellation Brands and gave the company a “hold” rating in a research report on Saturday, April 8th. Stifel Nicolaus upped their price objective on Constellation Brands from $189.00 to $201.00 and gave the company a “buy” rating in a research report on Monday, April 10th. Vetr upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $163.75 price objective on the stock in a research report on Tuesday, March 7th. Finally, Cowen and Company restated an “outperform” rating and set a $195.00 price objective on shares of Constellation Brands in a research report on Monday, April 10th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $182.86.
In other news, VP Thomas J. Mullin sold 39,854 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $169.55, for a total value of $6,757,245.70. Following the completion of the sale, the vice president now owns 48,900 shares of the company’s stock, valued at approximately $8,290,995. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry A. Fromberg sold 700 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $170.03, for a total value of $119,021.00. Following the completion of the sale, the director now directly owns 21,520 shares of the company’s stock, valued at approximately $3,659,045.60. The disclosure for this sale can be found here. Insiders have sold a total of 54,904 shares of company stock worth $9,347,911 in the last ninety days. Insiders own 10.63% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Constellation Brands by 7.8% in the third quarter. Quadrant Capital Group LLC now owns 731 shares of the company’s stock worth $113,000 after buying an additional 53 shares during the period. Tompkins Financial Corp raised its position in shares of Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock worth $116,000 after buying an additional 175 shares during the period. TLP Group LLC purchased a new position in shares of Constellation Brands during the third quarter worth about $129,000. Barometer Capital Management Inc. purchased a new position in shares of Constellation Brands during the first quarter worth about $130,000. Finally, Brick & Kyle Associates raised its position in shares of Constellation Brands by 1.9% in the third quarter. Brick & Kyle Associates now owns 815 shares of the company’s stock worth $136,000 after buying an additional 15 shares during the period. Institutional investors own 75.54% of the company’s stock.
The stock has a 50-day moving average price of $163.78 and a 200 day moving average price of $158.45. The stock has a market capitalization of $33.64 billion, a P/E ratio of 22.88 and a beta of 0.52.
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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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