Constellation Brands’ (STZ) “Buy” Rating Reiterated at Cowen and Company
Cowen and Company reaffirmed their buy rating on shares of Constellation Brands Inc (NYSE:STZ) in a research report sent to investors on Thursday morning. They currently have a $230.00 target price on the stock.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Constellation Brands from a strong-buy rating to a buy rating in a research note on Saturday, June 10th. Royal Bank Of Canada reissued a buy rating on shares of Constellation Brands in a research note on Friday, June 16th. Stifel Nicolaus lifted their price target on shares of Constellation Brands from $189.00 to $201.00 and gave the company a buy rating in a research note on Monday, April 10th. Pivotal Research lifted their price target on shares of Constellation Brands from $200.00 to $220.00 and gave the company a buy rating in a research note on Thursday, April 6th. Finally, Zacks Investment Research raised shares of Constellation Brands from a hold rating to a buy rating and set a $207.00 price target on the stock in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $200.53.
Constellation Brands (NYSE STZ) traded up 0.40% during trading on Thursday, hitting $193.82. 744,105 shares of the stock traded hands. The stock has a 50 day moving average price of $190.79 and a 200-day moving average price of $172.44. Constellation Brands has a 52-week low of $144.00 and a 52-week high of $199.89. The stock has a market cap of $37.85 billion, a P/E ratio of 24.31 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company earned $1.54 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Constellation Brands will post $8.17 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.07%. Constellation Brands’s payout ratio is currently 26.03%.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total value of $391,860.00. Following the transaction, the director now owns 22,820 shares in the company, valued at approximately $4,471,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas Michael Kane sold 4,940 shares of the firm’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $193.28, for a total value of $954,803.20. Following the completion of the transaction, the vice president now owns 8,914 shares in the company, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. Insiders sold a total of 95,601 shares of company stock worth $18,586,986 in the last 90 days. 15.59% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its position 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 worth $115,000 after buying an additional 24 shares during the last quarter. Tompkins Financial Corp raised its position in shares of Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock worth $116,000 after buying an additional 175 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Constellation Brands during the first quarter worth $117,000. Hanson McClain Inc. raised its position in shares of Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock worth $125,000 after buying an additional 2 shares during the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in shares of Constellation Brands during the first quarter worth $130,000. Institutional investors own 75.88% of the company’s stock.
About Constellation Brands
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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