Constellation Brands Inc (STZ) Coverage Initiated at Macquarie
Equities research analysts at Macquarie assumed coverage on shares of Constellation Brands Inc (NYSE:STZ) in a note issued to investors on Thursday. The brokerage set an “outperform” rating and a $227.00 price target on the stock. Macquarie’s price target suggests a potential upside of 11.60% from the stock’s current price.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price target for the company in a research note on Thursday, June 22nd. Argus boosted their price target on Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 5th. Wells Fargo & Company restated an “outperform” rating and issued a $215.00 price target (up previously from $205.00) on shares of Constellation Brands in a research note on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and issued a $212.00 price objective (up previously from $198.00) on shares of Constellation Brands in a report on Friday, June 30th. Finally, Morgan Stanley lifted their price objective on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $202.00.
Constellation Brands (STZ) opened at 203.40 on Thursday. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $205.12. The firm has a 50-day moving average price of $198.27 and a 200-day moving average price of $182.34. The company has a market cap of $39.72 billion, a P/E ratio of 25.51 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands will post $8.18 EPS for the current fiscal year.
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In other Constellation Brands news, VP Thomas J. Mullin sold 23,827 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total transaction of $4,613,860.28. Following the completion of the sale, the vice president now owns 78,524 shares of the company’s stock, valued at $15,205,387.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The disclosure for this sale can be found here. Insiders have sold 108,118 shares of company stock valued at $21,052,835 in the last three months. 15.59% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. boosted its stake in shares of Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after acquiring an additional 193 shares during the period. Harbour Capital Advisors LLC bought a new position in shares of Constellation Brands in the first quarter worth about $117,000. Hanson McClain Inc. boosted 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 worth $125,000 after acquiring an additional 2 shares during the period. North Star Investment Management Corp. boosted 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 worth $145,000 after acquiring an additional 78 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Constellation Brands by 609.1% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after acquiring an additional 670 shares during the period. 74.95% of the stock is 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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