Constellation Brands’ (STZ) Buy Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Constellation Brands Inc (NYSE:STZ) in a research report released on Sunday morning. The brokerage currently has a $226.00 price target on the stock.
Several other equities research analysts have also issued reports on the stock. Citigroup Inc. reissued a neutral rating and issued a $232.00 price objective (up previously from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. J P Morgan Chase & Co reissued an overweight rating and issued a $237.00 price objective (up previously from $220.00) on shares of Constellation Brands in a research report on Friday, October 6th. Cowen and Company reaffirmed an outperform rating and set a $243.00 price target (up from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. Evercore ISI reaffirmed an outperform rating and set a $235.00 price target (up from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. Finally, Morgan Stanley raised their price target on shares of Constellation Brands from $218.00 to $245.00 and gave the company an overweight rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of Buy and an average target price of $216.00.
Constellation Brands (STZ) traded up $0.54 during trading on Friday, hitting $218.67. 672,100 shares of the stock traded hands, compared to its average volume of 1,144,561. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $219.56. The firm has a market capitalization of $42,773.38, a price-to-earnings ratio of 26.50, a P/E/G ratio of 1.41 and a beta of 0.10. The company has a quick ratio of 0.69, a current ratio of 1.61 and a debt-to-equity ratio of 1.01.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. sell-side analysts forecast that Constellation Brands will post 8.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be given a $0.52 dividend. The ex-dividend date is Monday, November 6th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.95%. Constellation Brands’s payout ratio is currently 23.85%.
In related news, EVP William F. Hackett sold 12,517 shares of Constellation Brands 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas J. Mullin sold 18,227 shares of Constellation Brands stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the completion of the sale, the vice president now owns 72,924 shares in the company, valued at $15,825,237.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,179 shares of company stock worth $18,030,434. Insiders own 15.59% of the company’s stock.
Large investors have recently modified their holdings of the stock. Wedbush Securities Inc. lifted its position in Constellation Brands by 12.9% in the 3rd quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock valued at $634,000 after purchasing an additional 362 shares during the last quarter. DSAM Partners London Ltd bought a new stake in Constellation Brands in the 2nd quarter valued at about $21,659,000. Brighton Jones LLC bought a new stake in Constellation Brands in the 2nd quarter valued at about $245,000. Cipher Capital LP bought a new stake in Constellation Brands in the 2nd quarter valued at about $7,833,000. Finally, D L Carlson Investment Group Inc. lifted its position in Constellation Brands by 22.3% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock valued at $5,310,000 after purchasing an additional 5,005 shares during the last quarter. Hedge funds and other institutional investors own 74.38% of the company’s stock.
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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