Constellation Brands Inc. (STZ) Shares Gap Up to $164.80
Constellation Brands Inc. (NYSE:STZ) shares 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.
Several research analysts have recently issued reports on STZ shares. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Constellation Brands in a research report on Friday, July 15th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Constellation Brands in a research report on Thursday, June 30th. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $180.00 price objective on shares of Constellation Brands in a research report on Friday, June 3rd. Zacks Investment Research raised Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price objective for the company in a research report on Friday, July 1st. Finally, Susquehanna reaffirmed a “hold” rating and set 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, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and an average price target of $174.10.
The stock has a 50-day moving average price of $164.94 and a 200 day moving average price of $156.37. The firm has a market capitalization of $33.48 billion and a price-to-earnings ratio of 30.09.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, June 30th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.02. During the same period in the previous year, the company earned $1.26 EPS. The business had revenue of $1.87 billion for the quarter. Constellation Brands’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts anticipate that Constellation Brands Inc. will post $6.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.96%.
In related news, CFO David Eric Klein sold 14,300 shares of Constellation Brands stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $166.27, for a total value of $2,377,661.00. Following the completion of the transaction, the chief financial officer now directly owns 36,152 shares in the company, valued at $6,010,993.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas Michael Kane sold 7,000 shares of Constellation Brands stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $163.26, for a total value of $1,142,820.00. Following the completion of the transaction, the vice president now owns 8,764 shares of the company’s stock, valued at $1,430,810.64. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Constellation Brands stock. I.G. Investment Management LTD. purchased a new position in Constellation Brands Inc. (NYSE:STZ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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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