Constellation Brands Inc. (STZ) Shares Gap Up to $164.80
Constellation Brands Inc. (NYSE:STZ)’s share price gapped up before the market opened on Friday . The stock had previously closed at $164.25, but opened at $164.80. Constellation Brands shares last traded at $166.82, with a volume of 245,060 shares.
A number of research firms have issued reports on STZ. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Constellation Brands in a report on Friday, July 15th. Zacks Investment Research downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. Susquehanna restated a “hold” rating on shares of Constellation Brands in a research note on Monday, August 8th. SunTrust Banks Inc. restated a “buy” rating and set a $180.00 price objective on shares of Constellation Brands in a research note on Friday, June 3rd. Finally, Vetr upgraded shares of Constellation Brands from a “sell” rating to a “strong-buy” rating and set a $181.72 price objective for the company in a research note on Monday, May 9th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $174.10.
The firm has a market cap of $33.48 billion and a P/E ratio of 30.09. The company has a 50-day moving average of $164.94 and a 200 day moving average of $156.37.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, June 30th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.52 by $0.02. The business had revenue of $1.87 billion for the quarter. During the same period in the previous year, the firm posted $1.26 earnings per share. Constellation Brands’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts predict that Constellation Brands Inc. will post $6.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, August 8th.
In other news, CFO David Eric Klein sold 14,300 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $166.27, for a total transaction of $2,377,661.00. Following the completion of the sale, the chief financial officer now directly owns 36,152 shares of the company’s stock, valued at $6,010,993.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas J. Mullin sold 9,516 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the completion of the sale, the vice president now directly owns 88,602 shares of the company’s stock, valued at $14,745,144.84. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Constellation Brands stock. I.G. Investment Management LTD. acquired a new position in Constellation Brands Inc. (NYSE:STZ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,510 shares of the company’s stock, valued at approximately $1,924,000.
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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