Citigroup Inc. Reiterates “Neutral” Rating for Constellation Brands Inc. (STZ)
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “neutral” rating reaffirmed by stock analysts at Citigroup Inc. in a report released on Sunday. They currently have a $191.00 price target on the stock, up from their prior price target of $180.00. Citigroup Inc.’s price target points to a potential upside of 13.12% from the stock’s current price.
Several other research analysts also recently weighed in on STZ. Pivotal Research reiterated a “buy” rating and issued a $200.00 price target on shares of Constellation Brands in a report on Thursday. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price objective for the company in a report on Friday, July 1st. Morgan Stanley restated an “overweight” rating and set a $194.00 price objective (up from $191.00) on shares of Constellation Brands in a report on Saturday. RBC Capital Markets restated an “outperform” rating and set a $181.00 price objective on shares of Constellation Brands in a report on Wednesday. Finally, Credit Suisse Group AG started coverage on Constellation Brands in a report on Thursday, September 15th. They set a “neutral” rating and a $178.00 price objective for the company. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and an average target price of $181.25.
Constellation Brands (NYSE:STZ) traded down 1.28% on Friday, reaching $168.84. The company had a trading volume of 1,751,101 shares. Constellation Brands has a 52-week low of $130.23 and a 52-week high of $173.55. The firm has a market capitalization of $33.85 billion, a price-to-earnings ratio of 30.42 and a beta of 0.63. The stock’s 50-day moving average price is $165.62 and its 200 day moving average price is $160.44.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. The company earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 earnings per share. On average, equities analysts anticipate that Constellation Brands will post $6.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Constellation Brands’s payout ratio is 27.49%.
In related news, EVP William F. Hackett sold 8,000 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the sale, the executive vice president now owns 54,934 shares in the company, valued at $9,045,981.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP F Paul Hetterich sold 10,000 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the sale, the vice president now owns 61,404 shares in the company, valued at approximately $10,107,098.40. The disclosure for this sale can be found here. Insiders own 10.63% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in Constellation Brands by 2.1% in the second quarter. Quadrant Capital Group LLC now owns 678 shares of the company’s stock valued at $103,000 after buying an additional 14 shares during the period. PineBridge Investments L.P. raised its stake in Constellation Brands by 331.3% in the second quarter. PineBridge Investments L.P. now owns 690 shares of the company’s stock valued at $115,000 after buying an additional 530 shares during the period. Invictus RG acquired a new stake in Constellation Brands during the first quarter valued at $110,000. Hanson McClain Inc. raised its stake in Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock valued at $126,000 after buying an additional 2 shares during the period. Finally, Daiwa SB Investments Ltd. acquired a new stake in Constellation Brands during the second quarter valued at $134,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.
Constellation Brands Company Profile
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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