Constellation Brands Inc. (STZ) Receives Neutral Rating from Citigroup Inc.
Citigroup Inc. reissued their neutral rating on shares of Constellation Brands Inc. (NYSE:STZ) in a research report sent to investors on Sunday. Citigroup Inc. currently has a $191.00 price objective on the stock, up from their prior price objective of $180.00.
A number of other research firms have also recently weighed in on STZ. Morgan Stanley reiterated an overweight rating and issued a $194.00 target price (up from $191.00) on shares of Constellation Brands in a research note on Saturday. Pivotal Research reiterated a buy rating and issued a $200.00 target price on shares of Constellation Brands in a research note on Thursday. Bank of America Corp. restated a buy rating and set a $195.00 price target on shares of Constellation Brands in a research note on Thursday. Zacks Investment Research cut shares of Constellation Brands from a buy rating to a hold rating in a research note on Tuesday, September 6th. Finally, RBC Capital Markets set a $181.00 price target on shares of Constellation Brands and gave the company a buy rating in a research note on Wednesday, September 28th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands has a consensus rating of Buy and a consensus target price of $181.25.
Shares of Constellation Brands (NYSE:STZ) traded down 1.28% during midday trading on Friday, reaching $168.84. 1,751,101 shares of the company traded hands. The company has a 50-day moving average of $165.62 and a 200 day moving average of $160.44. The firm has a market capitalization of $33.85 billion, a PE ratio of 30.42 and a beta of 0.63. Constellation Brands has a 12-month low of $130.23 and a 12-month high of $173.55.
Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.12. The firm had revenue of $2.02 billion for the quarter. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 earnings per share. On average, equities analysts forecast that Constellation Brands will post $6.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be given 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 (DPR) is currently 27.49%.
In other Constellation Brands news, VP F Paul Hetterich sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the completion of the sale, the vice president now directly owns 61,404 shares in the company, valued at approximately $10,107,098.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 9,516 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 88,602 shares of the company’s stock, valued at $14,745,144.84. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA raised its stake in Constellation Brands by 505.7% in the first quarter. Glenmede Trust Co. NA now owns 5,300 shares of the company’s stock worth $800,000 after buying an additional 4,425 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Constellation Brands during the first quarter worth $165,000. Palisade Capital Management LLC NJ raised its stake in Constellation Brands by 243.2% in the first quarter. Palisade Capital Management LLC NJ now owns 20,000 shares of the company’s stock worth $3,022,000 after buying an additional 14,172 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Constellation Brands during the first quarter worth $576,000. Finally, M&T Bank Corp raised its stake in Constellation Brands by 57.7% in the first quarter. M&T Bank Corp now owns 25,328 shares of the company’s stock worth $3,828,000 after buying an additional 9,272 shares in the last quarter. Institutional investors and hedge funds 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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