Constellation Brands (STZ) Stock Rating Reaffirmed by Jefferies Financial Group
Jefferies Financial Group reiterated their buy rating on shares of Constellation Brands (NYSE:STZ) in a research report report published on Wednesday. Jefferies Financial Group currently has a $289.00 target price on the stock.
“In a release after mkt, STZ announced Rob Sands will step aside on 3/1, ending his 11-year tenure as CEO, and will assume the role of exec. chairman. STZ’s current pres./COO, Bill Newlands, will assume the CEO role. While likely a bit earlier than the market anticipated, Newlands appeared to be the clear successor to Mr. Sands when he was named Pres. earlier this year. STZ remains our top large cap growth idea w/base biz (ex-Canopy) trading at ~16x EV/ EBITDA.”,” Jefferies Financial Group’s analyst wrote.
Several other equities analysts have also commented on STZ. ValuEngine upgraded shares of Constellation Brands from a hold rating to a buy rating in a research note on Thursday, June 28th. Pivotal Research reiterated a buy rating and issued a $285.00 price target on shares of Constellation Brands in a research note on Friday, June 29th. Stifel Nicolaus dropped their price target on shares of Constellation Brands from $230.00 to $224.00 and set a hold rating on the stock in a research note on Monday, July 2nd. Morgan Stanley dropped their price target on shares of Constellation Brands from $262.00 to $258.00 and set a buy rating on the stock in a research note on Tuesday, July 3rd. Finally, Deutsche Bank dropped their price target on shares of Constellation Brands to $234.00 and set a buy rating on the stock in a research note on Thursday, July 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Constellation Brands has a consensus rating of Buy and a consensus price target of $246.96.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.27. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.47 earnings per share. As a group, analysts predict that Constellation Brands will post 9.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.33%. Constellation Brands’s dividend payout ratio (DPR) is presently 33.94%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Sun Life Financial INC grew its position in shares of Constellation Brands by 155.3% during the second quarter. Sun Life Financial INC now owns 457 shares of the company’s stock worth $100,000 after acquiring an additional 278 shares during the last quarter. Clarus Wealth Advisors purchased a new position in shares of Constellation Brands during the second quarter worth approximately $111,000. Atlantic Trust LLC purchased a new position in shares of Constellation Brands during the second quarter worth approximately $114,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Constellation Brands by 227.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock worth $115,000 after acquiring an additional 366 shares during the last quarter. Finally, Stelac Advisory Services LLC purchased a new position in shares of Constellation Brands during the second quarter worth approximately $125,000. Institutional investors and hedge funds own 73.53% of the company’s stock.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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