Constellation Brands Inc. (STZ) Releases Earnings Results, Beats Expectations By $0.12 EPS
Constellation Brands Inc. (NYSE:STZ) released its quarterly earnings results on Wednesday. The company reported $1.77 earnings per share for the quarter, beating 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 had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $1.56 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. Constellation Brands updated its FY17 guidance to $6.30-6.45 EPS.
Shares of Constellation Brands (NYSE:STZ) opened at 168.60 on Thursday. The firm has a market cap of $33.81 billion, a PE ratio of 30.38 and a beta of 0.63. Constellation Brands has a 1-year low of $130.23 and a 1-year high of $173.55. The company has a 50-day moving average of $165.36 and a 200-day moving average of $160.21.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Constellation Brands’s dividend payout ratio is currently 28.78%.
In other Constellation Brands news, VP F Paul Hetterich sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $164.60, for a total value of $1,646,000.00. Following the completion of the sale, the vice president now owns 61,404 shares in the company, valued at $10,107,098.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas J. Mullin sold 9,516 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were 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 owns 88,602 shares of the company’s stock, valued at approximately $14,745,144.84. The disclosure for this sale can be found here. 10.63% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Constellation Brands by 0.7% in the second quarter. FMR LLC now owns 10,667,795 shares of the company’s stock worth $1,764,453,000 after buying an additional 71,739 shares in the last quarter. Third Point LLC boosted its stake in shares of Constellation Brands by 13.3% in the second quarter. Third Point LLC now owns 2,000,000 shares of the company’s stock worth $330,800,000 after buying an additional 235,000 shares in the last quarter. Senator Investment Group LP boosted its stake in shares of Constellation Brands by 4.0% in the second quarter. Senator Investment Group LP now owns 1,300,000 shares of the company’s stock worth $215,020,000 after buying an additional 50,000 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Constellation Brands by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 591,040 shares of the company’s stock worth $97,758,000 after buying an additional 4,890 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Constellation Brands by 35.7% in the second quarter. Marshall Wace LLP now owns 506,000 shares of the company’s stock worth $83,693,000 after buying an additional 133,250 shares in the last quarter. Institutional investors own 75.05% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price target on the stock in a report on Friday, July 1st. RBC Capital Markets restated an “outperform” rating and issued a $181.00 price target on shares of Constellation Brands in a report on Wednesday. Credit Suisse Group AG assumed coverage on shares of Constellation Brands in a report on Thursday, September 15th. They issued a “neutral” rating and a $178.00 price target on the stock. Susquehanna restated a “hold” rating on shares of Constellation Brands in a report on Monday, August 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $181.00 price target on shares of Constellation Brands in a report on Wednesday, June 22nd. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $175.27.
About Constellation Brands
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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