Constellation Brands Inc. (STZ) Hits New 1-Year High at $168.13
Constellation Brands Inc. (NYSE:STZ) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $168.13 and last traded at $167.94, with a volume of 580,931 shares. The stock had previously closed at $165.39.
A number of equities research analysts have issued reports on STZ shares. Morgan Stanley reiterated an “overweight” rating and set a $173.00 target price on shares of Constellation Brands in a report on Monday, March 28th. Goldman Sachs Group Inc. raised their price objective on shares of Constellation Brands from $166.00 to $170.00 in a report on Wednesday, March 30th. Wells Fargo & Co. started coverage on shares of Constellation Brands in a report on Tuesday, April 5th. They issued an “outperform” rating on the stock. Pivotal Research raised their price objective on shares of Constellation Brands from $185.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, April 6th. Finally, Barclays PLC raised their price objective on shares of Constellation Brands from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 7th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $174.10.
The firm’s 50 day moving average is $159.31 and its 200 day moving average is $152.25.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, June 30th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.02. The firm earned $1.87 billion during the quarter. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. On average, equities analysts predict that Constellation Brands Inc. will post $6.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%.
In other news, Director Ernesto M. Hernandez sold 700 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $156.07, for a total value of $109,249.00. Following the completion of the transaction, the director now directly owns 103 shares in the company, valued at $16,075.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith E. Wandell sold 6,517 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $155.11, for a total transaction of $1,010,851.87. Following the completion of the transaction, the director now owns 14,612 shares of the company’s stock, valued at $2,266,467.32. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently made changes to their positions in the stock. Tredje AP fonden purchased a new position in shares of Constellation Brands during the fourth quarter valued at $1,558,000. Sawtooth Asset Management Inc. boosted its stake in Constellation Brands by 6,412.4% in the fourth quarter. Sawtooth Asset Management Inc. now owns 15,174 shares of the company’s stock valued at $2,161,000 after buying an additional 14,941 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Constellation Brands by 2.5% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 16,678 shares of the company’s stock valued at $2,376,000 after buying an additional 401 shares in the last quarter. Financial Counselors Inc. boosted its stake in Constellation Brands by 4.7% in the fourth quarter. Financial Counselors Inc. now owns 17,513 shares of the company’s stock valued at $2,495,000 after buying an additional 794 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in Constellation Brands by 138.4% in the fourth quarter. LS Investment Advisors LLC now owns 10,085 shares of the company’s stock valued at $1,437,000 after buying an additional 5,854 shares in the last quarter.
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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