Constellation Brands Inc. (STZ) Receives “Buy” Rating from Pivotal Research
Pivotal Research reissued their buy rating on shares of Constellation Brands Inc. (NYSE:STZ) in a report released on Thursday morning. Pivotal Research currently has a $200.00 price objective on the stock.
Several other analysts also recently weighed in on the company. RBC Capital Markets reaffirmed an outperform rating and set a $181.00 target price on shares of Constellation Brands in a research note on Wednesday. Bank of America Corp. reaffirmed a buy rating and set a $185.00 target price on shares of Constellation Brands in a research note on Friday, September 30th. Zacks Investment Research raised Constellation Brands from a hold rating to a buy rating and set a $186.00 target price on the stock in a research note on Friday, September 16th. Credit Suisse Group AG assumed coverage on Constellation Brands in a research note on Thursday, September 15th. They set a neutral rating and a $178.00 target price on the stock. Finally, Morgan Stanley reaffirmed a buy rating on shares of Constellation Brands in a research note on Thursday, September 15th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has a consensus rating of Buy and an average target price of $175.75.
Constellation Brands (NYSE:STZ) traded down 1.30% during mid-day trading on Thursday, hitting $168.80. The company had a trading volume of 936,764 shares. The company’s 50 day moving average price is $165.52 and its 200-day moving average price is $160.29. Constellation Brands has a one year low of $130.23 and a one year high of $173.55. The company has a market cap of $33.85 billion, a PE ratio of 30.41 and a beta of 0.63.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.12. The business had revenue of $2.02 billion for the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the business posted $1.56 EPS. Equities research analysts anticipate that Constellation Brands will post $6.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, November 4th. Constellation Brands’s payout ratio is 27.49%.
In other Constellation Brands news, VP Thomas Michael Kane sold 7,000 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 8,764 shares in the company, valued at approximately $1,430,810.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP F Paul Hetterich sold 10,000 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the transaction, the vice president now owns 61,404 shares in the company, valued at $10,107,098.40. The disclosure for this sale can be found here. Company insiders own 10.63% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC boosted its position in shares of Constellation Brands by 14.3% in the first quarter. Nuveen Asset Management LLC now owns 207,493 shares of the company’s stock valued at $31,350,000 after buying an additional 25,918 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Constellation Brands during the first quarter valued at approximately $57,704,000. Redwood Investments LLC purchased a new stake in Constellation Brands during the second quarter valued at approximately $14,966,000. Natixis raised its stake in Constellation Brands by 1,155.2% in the first quarter. Natixis now owns 305,995 shares of the company’s stock valued at $46,233,000 after buying an additional 281,616 shares during the last quarter. Finally, CIBC World Markets Inc. raised its stake in Constellation Brands by 42.4% in the second quarter. CIBC World Markets Inc. now owns 76,159 shares of the company’s stock valued at $12,597,000 after buying an additional 22,676 shares during the last quarter. 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.
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.