Constellation Brands Inc. (STZ) Rating Reiterated by RBC Capital Markets
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “buy” rating reaffirmed by stock analysts at RBC Capital Markets in a report released on Wednesday. They currently have a $183.00 target price on the stock. RBC Capital Markets’ price objective would suggest a potential upside of 18.22% from the company’s previous close.
STZ has been the topic of a number of other research reports. Citigroup Inc. reissued a “neutral” rating and set a $191.00 price target (up previously from $180.00) on shares of Constellation Brands in a research report on Sunday, October 9th. Credit Agricole SA reissued an “outperform” rating on shares of Constellation Brands in a research report on Monday, August 22nd. Bank of America Corp. reaffirmed a “buy” rating and issued a $185.00 target price on shares of Constellation Brands in a research report on Friday, September 30th. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research note on Friday, November 11th. Finally, Pivotal Research reiterated a “buy” rating and set a $200.00 target price on shares of Constellation Brands in a research note on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $178.25.
Constellation Brands (NYSE:STZ) opened at 154.80 on Wednesday. Constellation Brands has a 52-week low of $130.23 and a 52-week high of $173.55. The company’s 50 day moving average price is $164.33 and its 200 day moving average price is $162.23. The company has a market cap of $31.13 billion, a P/E ratio of 26.63 and a beta of 0.59.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.12. The firm 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%. Constellation Brands’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $1.56 EPS. Equities research analysts anticipate that Constellation Brands will post $6.44 EPS for the current fiscal year.
The company also recently disclosed 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. This represents a $1.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, November 4th. Constellation Brands’s dividend payout ratio (DPR) is 27.49%.
In related news, VP Thomas J. Mullin sold 9,516 shares of the firm’s stock in a transaction on 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 sale, the vice president now owns 88,602 shares of the company’s stock, valued at approximately $14,745,144.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 10.63% of the company’s stock.
Several large investors have recently added to or reduced their stakes in STZ. Kistler Tiffany Companies LLC raised its position in shares of Constellation Brands by 13.2% in the third quarter. Kistler Tiffany Companies LLC now owns 643 shares of the company’s stock valued at $107,000 after buying an additional 75 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of 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 in the last quarter. PineBridge Investments L.P. raised its position 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 valued at $115,000 after buying an additional 530 shares in the last quarter. Invictus RG bought a new position in shares of Constellation Brands during the first quarter valued at about $110,000. Finally, Hanson McClain Inc. raised its position in shares of Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock valued at $126,000 after buying an additional 2 shares in the last quarter. 75.01% 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.
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