Constellation Brands Inc. (STZ) Stock Rating Reaffirmed by RBC Capital Markets
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “outperform” rating reaffirmed by analysts at RBC Capital Markets in a research report issued to clients and investors on Wednesday. They presently have a $181.00 target price on the stock. RBC Capital Markets’ target price suggests a potential upside of 9.13% from the stock’s current price.
A number of other research firms have also recently commented on STZ. Credit Agricole SA restated an “outperform” rating on shares of Constellation Brands in a report on Monday, August 22nd. Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a report on Friday, September 16th. Morgan Stanley restated a “buy” rating on shares of Constellation Brands in a report on Thursday, September 15th. Bank of America Corp. restated a “buy” rating and issued a $185.00 price target on shares of Constellation Brands in a report on Friday, September 30th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Constellation Brands in a report on Thursday, June 30th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $175.27.
Shares of Constellation Brands (NYSE:STZ) opened at 165.85 on Wednesday. The stock has a 50 day moving average of $165.24 and a 200-day moving average of $160.15. Constellation Brands has a one year low of $130.23 and a one year high of $168.68. The company has a market capitalization of $33.25 billion, a PE ratio of 29.88 and a beta of 0.63.
Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.12. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. The business earned $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $1.56 earnings per share. Constellation Brands’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts forecast that Constellation Brands will post $6.30 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.96%. Constellation Brands’s dividend payout ratio is 28.78%.
In other news, VP F Paul Hetterich sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $164.60, for a total value of $1,646,000.00. Following the sale, the vice president now owns 61,404 shares of the company’s stock, valued at $10,107,098.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas Michael Kane sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the completion of the sale, the vice president now directly owns 8,764 shares in the company, valued at approximately $1,430,810.64. The disclosure for this sale can be found here. 10.63% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake in Constellation Brands by 2.1% in the second quarter. Quadrant Capital Group LLC now owns 678 shares of the company’s stock valued at $103,000 after buying an additional 14 shares during the period. Invictus RG acquired a new stake in Constellation Brands during the first quarter valued at about $110,000. PineBridge Investments L.P. raised its stake in Constellation Brands by 331.3% in the second quarter. PineBridge Investments L.P. now owns 690 shares of the company’s stock valued at $115,000 after buying an additional 530 shares during the period. Hanson McClain Inc. raised its stake in Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock valued at $126,000 after buying an additional 2 shares during the period. Finally, Daiwa SB Investments Ltd. acquired a new stake in Constellation Brands during the second quarter valued at about $134,000. 75.05% of the stock is currently owned by 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.
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