Constellation Brands Inc (NYSE:STZ)‘s stock had its “overweight” rating reaffirmed by research analysts at J P Morgan Chase & Co in a research report issued on Friday, October 6th. They currently have a $237.00 target price on the stock, up from their prior target price of $220.00. J P Morgan Chase & Co’s price target indicates a potential upside of 10.93% from the stock’s current price.
Several other analysts have also recently weighed in on STZ. BidaskClub cut shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $204.00 target price on shares of Constellation Brands in a report on Monday, June 12th. Royal Bank Of Canada restated a “buy” rating on shares of Constellation Brands in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $198.00 target price (down from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. Finally, Stifel Nicolaus lifted their price target on Constellation Brands from $201.00 to $216.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. 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 stock currently has an average rating of “Buy” and a consensus price target of $216.00.
Constellation Brands (STZ) opened at 213.64 on Friday. Constellation Brands has a 12 month low of $144.00 and a 12 month high of $213.90. The company’s 50-day moving average price is $202.77 and its 200 day moving average price is $188.88. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 24.54 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. Constellation Brands’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 earnings per share. Analysts forecast that Constellation Brands will post $8.42 EPS for the current fiscal year.
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In related news, Director Barry A. Fromberg sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $209.45, for a total value of $10,472,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 122,786 shares of company stock valued at $24,740,206. Company insiders own 15.59% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Constellation Brands by 0.9% in the 2nd quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock worth $2,268,295,000 after acquiring an additional 103,312 shares in the last quarter. Vanguard Group Inc. lifted its stake in Constellation Brands by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,276,593 shares of the company’s stock worth $2,184,613,000 after acquiring an additional 350,346 shares in the last quarter. State Street Corp lifted its stake in Constellation Brands by 0.5% in the 1st quarter. State Street Corp now owns 7,391,582 shares of the company’s stock worth $1,197,945,000 after acquiring an additional 39,246 shares in the last quarter. Egerton Capital UK LLP lifted its stake in Constellation Brands by 9.3% in the 2nd quarter. Egerton Capital UK LLP now owns 2,717,567 shares of the company’s stock worth $526,474,000 after acquiring an additional 231,984 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Constellation Brands by 87.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after acquiring an additional 786,726 shares in the last quarter. 74.90% of the stock is owned by hedge funds and other institutional investors.
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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