Constellation Brands’ (STZ) “Buy” Rating Reiterated at Bank of America Corp.
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “buy” rating reiterated by equities research analysts at Bank of America Corp. in a report issued on Thursday. They currently have a $195.00 price target on the stock. Bank of America Corp.’s target price indicates a potential upside of 15.66% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Goldman Sachs Group Inc. restated a “buy” rating on shares of Constellation Brands in a report on Friday, July 15th. Pivotal Research restated a “buy” rating and set a $200.00 target price on shares of Constellation Brands in a report on Thursday. Zacks Investment Research lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Susquehanna restated a “hold” rating on shares of Constellation Brands in a report on Monday, August 8th. Finally, RBC Capital Markets restated an “outperform” rating and set a $181.00 target price on shares of Constellation Brands in a report on Wednesday. Six investment 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. Constellation Brands currently has an average rating of “Buy” and an average price target of $175.75.
Constellation Brands (NYSE:STZ) traded up 1.44% during trading on Thursday, reaching $171.03. The company had a trading volume of 2,133,944 shares. The company has a market capitalization of $34.29 billion, a PE ratio of 30.82 and a beta of 0.63. The stock has a 50 day moving average price of $165.36 and a 200-day moving average price of $160.21. Constellation Brands has a 52-week low of $130.23 and a 52-week high of $173.55.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. The company earned $2.02 billion during the quarter. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts anticipate that Constellation Brands will post $6.30 earnings per share for the current fiscal year.
The company also recently announced 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 0.95%. Constellation Brands’s dividend payout ratio (DPR) is 28.78%.
In other Constellation Brands news, VP Thomas Michael Kane sold 7,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $163.26, for a total value of $1,142,820.00. Following the completion of the transaction, the vice president now owns 8,764 shares in the company, valued at approximately $1,430,810.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Thomas J. Mullin sold 9,516 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the completion of the transaction, 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 currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position 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. PineBridge Investments L.P. raised its stake in shares of Constellation Brands by 331.3% in the second quarter. PineBridge Investments L.P. now owns 690 shares of the company’s stock worth $115,000 after buying an additional 530 shares in the last quarter. Invictus RG bought a new stake in shares of Constellation Brands during the first quarter worth $110,000. Hanson McClain Inc. raised its stake in shares of Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock worth $126,000 after buying an additional 2 shares in the last quarter. Finally, Daiwa SB Investments Ltd. bought a new stake in shares of Constellation Brands during the second quarter worth $134,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.
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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