Pivotal Research Reaffirms “Buy” Rating for Constellation Brands Inc. (STZ)
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “buy” rating reaffirmed by stock analysts at Pivotal Research in a note issued to investors on Thursday. They presently have a $200.00 target price on the stock. Pivotal Research’s price objective points to a potential upside of 18.62% from the stock’s previous close.
STZ has been the subject of several other research reports. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 target price for the company in a research note on Friday, July 1st. Credit Suisse Group AG assumed coverage on Constellation Brands in a research report on Thursday, September 15th. They issued a “neutral” rating and a $178.00 price objective for the company. Credit Agricole SA reiterated an “outperform” rating on shares of Constellation Brands in a research report on Monday, August 22nd. Wells Fargo & Co. reiterated a “buy” rating on shares of Constellation Brands in a research report on Thursday, June 30th. Finally, Susquehanna reiterated a “hold” rating and issued a $155.00 price objective on shares of Constellation Brands in a research report on Tuesday, June 28th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and a consensus price target of $175.27.
Constellation Brands (NYSE:STZ) opened at 168.60 on Thursday. Constellation Brands has a 12 month low of $130.23 and a 12 month high of $173.55. The firm has a market cap of $33.81 billion, a price-to-earnings ratio of 30.38 and a beta of 0.63. The firm’s 50-day moving average price is $165.36 and its 200-day moving average price is $160.21.
Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.12. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The firm earned $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company earned $1.56 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts predict that Constellation Brands will post $6.30 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Constellation Brands’s dividend payout ratio is 28.78%.
In other news, EVP William F. Hackett sold 8,000 shares of Constellation Brands stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $164.67, for a total value of $1,317,360.00. Following the completion of the sale, the executive vice president now directly owns 54,934 shares of the company’s stock, valued at approximately $9,045,981.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas Michael Kane sold 7,000 shares of Constellation Brands stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $163.26, for a total value of $1,142,820.00. Following the completion of the sale, the vice president now directly owns 8,764 shares of the company’s stock, valued at $1,430,810.64. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA boosted its stake in Constellation Brands by 505.7% in the first quarter. Glenmede Trust Co. NA now owns 5,300 shares of the company’s stock valued at $800,000 after buying an additional 4,425 shares during the period. Prudential Financial Inc. boosted its stake in Constellation Brands by 3.5% in the first quarter. Prudential Financial Inc. now owns 223,451 shares of the company’s stock valued at $33,762,000 after buying an additional 7,580 shares during the period. BlackRock Inc. boosted its stake in Constellation Brands by 5.2% in the first quarter. BlackRock Inc. now owns 306,667 shares of the company’s stock valued at $46,334,000 after buying an additional 15,043 shares during the period. BlackRock Group LTD boosted its stake in Constellation Brands by 2.7% in the first quarter. BlackRock Group LTD now owns 1,342,421 shares of the company’s stock valued at $202,825,000 after buying an additional 35,355 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Constellation Brands during the first quarter valued at approximately $165,000. 75.05% of the stock is owned by institutional investors.
About Constellation Brands
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.
Receive News & Ratings for Constellation Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.