Constellation Brands Inc. (STZ) Receives “Overweight” Rating from Morgan Stanley
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a report issued on Saturday. They presently have a $194.00 price target on the stock, up from their prior price target of $191.00. Morgan Stanley’s price target would indicate a potential upside of 14.90% from the company’s current price.
STZ has been the subject of a number of other research reports. Zacks Investment Research raised shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 target price for the company in a research report on Friday, July 1st. Credit Suisse Group AG began coverage on shares of Constellation Brands in a research report on Thursday, September 15th. They set a “neutral” rating and a $178.00 target price for the company. Credit Agricole SA reissued an “outperform” rating on shares of Constellation Brands in a research report on Monday, August 22nd. Wells Fargo & Co. reissued a “buy” rating on shares of Constellation Brands in a research report on Thursday, June 30th. Finally, Susquehanna restated a “hold” rating and issued a $155.00 price target on shares of Constellation Brands in a report on Tuesday, June 28th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus price target of $176.75.
Constellation Brands (NYSE:STZ) opened at 168.84 on Friday. Constellation Brands has a one year low of $130.23 and a one year high of $173.55. The firm has a market capitalization of $33.85 billion, a PE ratio of 30.42 and a beta of 0.63. The stock has a 50 day moving average of $165.62 and a 200-day moving average of $160.44.
Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.12. The firm earned $2.02 billion during the quarter. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.56 EPS. On average, equities analysts predict that Constellation Brands will post $6.37 EPS for the current year.
The business 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%. The ex-dividend date is Friday, November 4th. Constellation Brands’s dividend payout ratio is presently 27.49%.
In other news, EVP William F. Hackett sold 8,000 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the transaction, the executive vice president now directly owns 54,934 shares of the company’s stock, valued at $9,045,981.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP F Paul Hetterich sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 61,404 shares in the company, valued at $10,107,098.40. The disclosure for this sale can be found here. 10.63% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of STZ. Advisory Services Network LLC raised its position in shares of Constellation Brands by 7.6% in the third quarter. Advisory Services Network LLC now owns 6,190 shares of the company’s stock worth $1,031,000 after buying an additional 439 shares during the period. Bremer Trust National Association raised its position in shares of Constellation Brands by 3.5% in the third quarter. Bremer Trust National Association now owns 2,512 shares of the company’s stock worth $418,000 after buying an additional 85 shares during the period. Liberty Capital Management Inc. raised its position in shares of Constellation Brands by 1.8% in the third quarter. Liberty Capital Management Inc. now owns 28,215 shares of the company’s stock worth $4,680,000 after buying an additional 501 shares during the period. Independent Portfolio Consultants Inc. raised its position in shares of Constellation Brands by 6.5% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,489 shares of the company’s stock worth $1,080,000 after buying an additional 395 shares during the period. Finally, Fulton Bank N.A. raised its position in shares of Constellation Brands by 2.2% in the third quarter. Fulton Bank N.A. now owns 1,547 shares of the company’s stock worth $258,000 after buying an additional 34 shares during the period. 75.05% of the stock is currently owned by institutional investors.
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.