Constellation Brands Inc. (STZ) Stock Rating Reaffirmed by Morgan Stanley
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “overweight” rating reissued by investment analysts at Morgan Stanley in a report issued on Saturday. They currently have a $194.00 price objective on the stock, up from their prior price objective of $191.00. Morgan Stanley’s price objective would indicate a potential upside of 14.90% from the company’s current price.
STZ has been the subject of several other research reports. Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research note on Friday, September 16th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Constellation Brands in a research note on Friday, July 15th. Wells Fargo & Co. reiterated a “buy” rating on shares of Constellation Brands in a research note on Thursday, June 30th. RBC Capital Markets set a $181.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $185.00 target price on shares of Constellation Brands in a research note on Friday, September 30th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and an average price target of $176.75.
Constellation Brands (NYSE:STZ) opened at 168.84 on Friday. The company has a market cap of $33.85 billion, a P/E ratio of 30.42 and a beta of 0.63. Constellation Brands has a 52 week low of $130.23 and a 52 week high of $173.55. The company 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 quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.12. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The business earned $2.02 billion during the quarter. During the same quarter last year, the business posted $1.56 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts forecast that Constellation Brands will post $6.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Constellation Brands’s dividend payout ratio is currently 27.49%.
In related news, VP Thomas J. Mullin sold 9,516 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the completion of the sale, the vice president now directly owns 88,602 shares in the company, valued at approximately $14,745,144.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William F. Hackett sold 8,000 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the sale, the executive vice president now owns 54,934 shares of the company’s stock, valued at $9,045,981.78. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
A number of large investors have recently bought and sold shares of STZ. 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 worth $103,000 after buying an additional 14 shares in the last quarter. 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 worth $115,000 after buying an additional 530 shares in the last quarter. Invictus RG purchased a new stake in Constellation Brands during the first quarter worth approximately $110,000. 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 worth $126,000 after buying an additional 2 shares in the last quarter. Finally, Daiwa SB Investments Ltd. purchased a new stake in Constellation Brands during the second quarter worth approximately $134,000. Institutional investors own 75.05% of the company’s stock.
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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