Constellation Brands Inc. (STZ) Trading Down 0.3%
Constellation Brands Inc. (NYSE:STZ)’s share price was down 0.3% on Friday . The stock traded as low as $165.51 and last traded at $165.53, with a volume of 463,072 shares trading hands. The stock had previously closed at $166.01.
Several equities analysts have recently weighed in on STZ shares. Goldman Sachs Group Inc. lifted their price objective on Constellation Brands from $166.00 to $170.00 in a report on Wednesday, March 30th. SunTrust Banks Inc. reissued a “buy” rating and issued a $180.00 target price (up previously from $170.00) on shares of Constellation Brands in a research report on Sunday, April 10th. Royal Bank Of Canada reissued a “buy” rating on shares of Constellation Brands in a research report on Wednesday, April 13th. Pivotal Research lifted their target price on Constellation Brands from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, April 6th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $189.00 target price (up previously from $174.00) on shares of Constellation Brands in a research report on Thursday, April 7th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands presently has a consensus rating of “Buy” and an average price target of $174.10.
The stock’s 50 day moving average is $156.82 and its 200-day moving average is $150.82.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 30th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.02. The firm earned $1.87 billion during the quarter. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 EPS. Equities analysts predict that Constellation Brands Inc. will post $6.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be issued a $0.40 dividend. The ex-dividend date is Monday, August 8th. This represents a $1.60 annualized dividend and a yield of 0.96%.
In other news, Director Ernesto M. Hernandez sold 700 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $156.07, for a total value of $109,249.00. Following the transaction, the director now owns 103 shares in the company, valued at $16,075.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 16,900 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $159.22, for a total value of $2,690,818.00. Following the completion of the transaction, the vice president now owns 105,502 shares in the company, valued at approximately $16,798,028.44. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. OppenheimerFunds Inc. raised its position in Constellation Brands by 13.5% in the fourth quarter. OppenheimerFunds Inc. now owns 1,658,942 shares of the company’s stock worth $236,304,000 after buying an additional 197,238 shares in the last quarter. Zweig DiMenna Associates LLC raised its position in Constellation Brands by 81.2% in the fourth quarter. Zweig DiMenna Associates LLC now owns 372,445 shares of the company’s stock worth $53,051,000 after buying an additional 166,954 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Constellation Brands during the fourth quarter worth $11,769,000. BNP Paribas Arbitrage SA raised its position in Constellation Brands by 4,946.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 75,695 shares of the company’s stock worth $10,782,000 after buying an additional 74,195 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new position in Constellation Brands during the fourth quarter worth $4,121,000.
Constellation Brands, Inc is an international beverage alcohol company. The Company’s operating segments include Beer, Wine and Spirits and Corporate Operations and Other. The Company’s wine portfolio is complemented by select spirits brands and other select beverage alcohol products. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.