Wells Fargo & Company Reaffirms Outperform Rating for Constellation Brands Inc (STZ)
Wells Fargo & Company reaffirmed their outperform rating on shares of Constellation Brands Inc (NYSE:STZ) in a report published on Saturday morning. They currently have a $216.00 target price on the stock, up from their prior target price of $215.00.
STZ has been the topic of a number of other research reports. OTR Global cut Constellation Brands to a positive rating in a research report on Tuesday, March 28th. Morgan Stanley lifted their target price on Constellation Brands from $204.00 to $218.00 and gave the stock an overweight rating in a research report on Monday, July 3rd. Zacks Investment Research cut Constellation Brands from a buy rating to a hold rating in a research report on Wednesday, June 21st. Royal Bank Of Canada restated a buy rating and issued a $183.00 price target on shares of Constellation Brands in a research report on Friday, March 31st. Finally, Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $198.00 price target (down previously from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Constellation Brands currently has an average rating of Buy and an average price target of $198.47.
Constellation Brands (NYSE STZ) opened at 196.00 on Friday. The company has a market capitalization of $38.28 billion, a price-to-earnings ratio of 24.58 and a beta of 0.07. Constellation Brands has a 52-week low of $144.00 and a 52-week high of $199.89. The stock has a 50 day moving average price of $188.92 and a 200 day moving average price of $170.47.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.36. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. Constellation Brands’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 EPS. On average, equities analysts expect that Constellation Brands will post $8.17 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.06%. The ex-dividend date is Monday, August 7th. Constellation Brands’s payout ratio is 26.03%.
In other Constellation Brands news, EVP Christopher Stenzel sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $196.75, for a total transaction of $983,750.00. Following the transaction, the executive vice president now owns 39,721 shares in the company, valued at approximately $7,815,106.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas J. Mullin sold 23,827 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total value of $4,613,860.28. Following the transaction, the vice president now owns 78,524 shares in the company, valued at approximately $15,205,387.36. The disclosure for this sale can be found here. Insiders have sold a total of 40,767 shares of company stock worth $7,921,773 in the last quarter. 15.59% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Harbour Capital Advisors LLC purchased a new stake in shares of Constellation Brands during the first quarter valued at approximately $117,000. North Star Investment Management Corp. raised its stake in shares of Constellation Brands by 11.6% in the second quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock valued at $145,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares during the period. Hanson McClain Inc. raised its stake in shares of Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the period. Finally, Tompkins Financial Corp raised its stake in shares of Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock valued at $116,000 after buying an additional 175 shares during the period. 75.58% of the stock is currently owned by institutional investors and hedge funds.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. 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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