Bank of America Corp. Reiterates “Buy” Rating for Constellation Brands Inc. (STZ)
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “buy” rating reaffirmed by equities researchers at Bank of America Corp. in a research note issued on Friday. They presently have a $185.00 price objective on the stock. Bank of America Corp.’s price target would indicate a potential upside of 13.03% from the company’s previous close.
A number of other brokerages have also recently issued reports on STZ. Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. RBC Capital Markets set a $181.00 target price on Constellation Brands and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Co. reiterated an “outperform” rating and set a $185.00 target price on shares of Constellation Brands in a report on Wednesday, July 6th. Credit Agricole SA reiterated an “outperform” rating on shares of Constellation Brands in a report on Monday, August 22nd. Finally, Susquehanna reiterated a “hold” rating and set a $155.00 target price on shares of Constellation Brands in a report on Sunday, July 17th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $175.27.
Shares of Constellation Brands (NYSE:STZ) traded up 1.04% during midday trading on Friday, reaching $165.37. 543,034 shares of the company traded hands. The company has a 50 day moving average price of $165.18 and a 200 day moving average price of $159.48. The company has a market capitalization of $33.16 billion, a PE ratio of 29.80 and a beta of 0.72. Constellation Brands has a 1-year low of $126.00 and a 1-year high of $168.68.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, June 30th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.02. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The business earned $1.87 billion during the quarter. During the same quarter in the previous year, the firm posted $1.26 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts expect that Constellation Brands will post $6.29 earnings per share for the current year.
In related news, VP Thomas J. Mullin sold 9,516 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $166.42, for a total value of $1,583,652.72. Following the completion of the sale, the vice president now directly owns 88,602 shares of the company’s stock, valued at approximately $14,745,144.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Eric Klein sold 14,300 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $166.27, for a total value of $2,377,661.00. Following the completion of the sale, the chief financial officer now directly owns 36,152 shares of the company’s stock, valued at $6,010,993.04. The disclosure for this sale can be found here. 10.63% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the company. Egerton Capital UK LLP acquired a new stake in shares of Constellation Brands during the second quarter valued at about $305,544,000. Lone Pine Capital LLC increased its stake in shares of Constellation Brands by 13.1% in the second quarter. Lone Pine Capital LLC now owns 6,666,012 shares of the company’s stock valued at $1,102,558,000 after buying an additional 769,791 shares in the last quarter. Bank of Montreal Can purchased a new stake in Constellation Brands during the second quarter worth $75,993,000. Newbrook Capital Advisors LP purchased a new stake in Constellation Brands during the first quarter worth $64,138,000. Finally, Suvretta Capital Management LLC increased its stake in Constellation Brands by 43.0% in the first quarter. Suvretta Capital Management LLC now owns 1,319,518 shares of the company’s stock worth $199,366,000 after buying an additional 396,700 shares during the period. 75.05% of the stock is owned by hedge funds and other institutional investors.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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.
Receive News & Stock Ratings for Constellation Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc. and related stocks with our FREE daily email newsletter.