Constellation Brands Inc. (STZ) Bonds Drop 1.5% During Trading
An issue of Constellation Brands Inc. (NYSE:STZ) debt fell 1.5% against its face value during trading on Thursday. The debt issue has a 4.75% coupon and will mature on November 15, 2024. The bonds in the issue are now trading at $108.00 and were trading at $108.63 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price target on the stock in a research note on Friday, July 1st. Pivotal Research reissued a “buy” rating and issued a $200.00 price objective on shares of Constellation Brands in a report on Thursday, October 6th. Citigroup Inc. reissued a “neutral” rating and issued a $191.00 price objective (up from $180.00) on shares of Constellation Brands in a report on Sunday, October 9th. Morgan Stanley reissued an “overweight” rating and issued a $194.00 price objective (up from $191.00) on shares of Constellation Brands in a report on Saturday, October 8th. Finally, Credit Suisse Group AG started coverage on Constellation Brands in a report on Thursday, September 15th. They issued a “neutral” rating and a $178.00 price objective for the company. Five investment 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 has an average rating of “Buy” and an average target price of $181.25.
Shares of Constellation Brands Inc. (NYSE:STZ) traded up 0.31% on Friday, hitting $169.46. The stock had a trading volume of 890,942 shares. Constellation Brands Inc. has a 12-month low of $130.23 and a 12-month high of $173.55. The firm has a market cap of $34.07 billion, a P/E ratio of 29.16 and a beta of 0.63. The company’s 50-day moving average price is $166.15 and its 200 day moving average price is $161.08.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.12. The firm earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. Constellation Brands’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.56 earnings per share. On average, equities research analysts forecast that Constellation Brands Inc. will post $6.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. Constellation Brands’s payout ratio is currently 27.49%.
In other Constellation Brands news, VP Thomas J. Mullin sold 9,516 shares of the business’s stock in a transaction on 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 transaction, the vice president now owns 88,602 shares in the company, valued at approximately $14,745,144.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William F. Hackett sold 8,000 shares of the business’s 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 transaction, the executive vice president now owns 54,934 shares of the company’s stock, valued at approximately $9,045,981.78. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in STZ. Pennsylvania Trust Co raised its position in shares of Constellation Brands by 14.5% in the third quarter. Pennsylvania Trust Co now owns 33,749 shares of the company’s stock worth $5,619,000 after buying an additional 4,276 shares during the period. Callahan Advisors LLC acquired a new position in shares of Constellation Brands during the third quarter worth about $523,000. National Pension Service raised its position in shares of Constellation Brands by 8.7% in the third quarter. National Pension Service now owns 121,038 shares of the company’s stock worth $20,152,000 after buying an additional 9,709 shares during the period. MSI Financial Services Inc raised its position in shares of Constellation Brands by 13.6% in the third quarter. MSI Financial Services Inc now owns 13,326 shares of the company’s stock worth $2,218,000 after buying an additional 1,600 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in shares of Constellation Brands by 3.6% in the third quarter. Gulf International Bank UK Ltd now owns 2,867 shares of the company’s stock worth $477,000 after buying an additional 100 shares during the period. 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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