Constellation Brands (NYSE:STZ) had its price target upped by Evercore ISI from $235.00 to $250.00 in a report released on Friday, January 5th. The brokerage currently has an outperform rating on the stock.
Other analysts have also issued reports about the stock. Royal Bank of Canada reissued a buy rating and issued a $226.00 price target on shares of Constellation Brands in a research report on Sunday, November 12th. Pivotal Research increased their price target on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a buy rating in a research report on Thursday, October 5th. Stifel Nicolaus increased their price target on shares of 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 reaffirmed a buy rating and set a $230.00 price objective on shares of Constellation Brands in a research report on Friday, October 6th. Finally, Deutsche Bank assumed coverage on shares of Constellation Brands in a research report on Wednesday, December 13th. They set a buy rating and a $244.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $229.00.
Constellation Brands (STZ) traded down $1.53 during mid-day trading on Friday, reaching $217.52. 4,266,100 shares of the company’s stock were exchanged, compared to its average volume of 3,790,289. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01. Constellation Brands has a 52 week low of $146.99 and a 52 week high of $229.50. The stock has a market capitalization of $42,940.00, a price-to-earnings ratio of 26.43, a PEG ratio of 1.34 and a beta of 0.08.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. Constellation Brands’s payout ratio is 11.30%.
Constellation Brands announced that its Board of Directors has initiated a stock repurchase program on Friday, January 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, VP Thomas J. Mullin sold 18,227 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the sale, the vice president now owns 72,924 shares in the company, valued at $15,825,237.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 15.59% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its stake in Constellation Brands by 50.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after buying an additional 193 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in Constellation Brands during the third quarter worth $153,000. Acrospire Investment Management LLC boosted its stake in Constellation Brands by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $155,000 after buying an additional 400 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Constellation Brands during the second quarter valued at $157,000. Finally, BB&T Investment Services Inc. bought a new position in shares of Constellation Brands during the second quarter valued at $179,000. Hedge funds and other institutional investors own 74.96% of the company’s stock.
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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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