Constellation Brands, Inc. (STZ) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Constellation Brands, Inc. (NYSE:STZ) have received an average rating of “Buy” from the eighteen ratings firms that are covering the stock. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $184.14.
A number of brokerages recently issued reports on STZ. Susquehanna Bancshares Inc reiterated a “hold” rating and issued a $158.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 5th. Credit Suisse Group AG set a $182.00 price objective on Constellation Brands and gave the company a “hold” rating in a research note on Saturday, April 8th. JPMorgan Chase & Co. started coverage on Constellation Brands in a research note on Tuesday, March 21st. They set an “overweight” rating and a $183.00 price objective on the stock. Vetr cut Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective on the stock. in a research note on Tuesday, May 16th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $195.00 price objective on shares of Constellation Brands in a research note on Monday, April 10th.
In other news, Director Barry A. Fromberg sold 700 shares of the business’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $170.03, for a total value of $119,021.00. Following the sale, the director now directly owns 21,520 shares in the company, valued at approximately $3,659,045.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James A. Locke III sold 6,340 shares of the business’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $173.05, for a total transaction of $1,097,137.00. Following the completion of the sale, the director now owns 44,415 shares in the company, valued at $7,686,015.75. The disclosure for this sale can be found here. Insiders have sold 61,244 shares of company stock valued at $10,445,048 over the last quarter. Company insiders own 10.63% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. People s United Financial Inc. boosted its stake in shares of Constellation Brands by 11.5% in the third quarter. People s United Financial Inc. now owns 60,347 shares of the company’s stock valued at $10,047,000 after buying an additional 6,211 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its position in shares of Constellation Brands by 1.8% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 15,657 shares of the company’s stock worth $2,607,000 after buying an additional 276 shares during the last quarter. ProVise Management Group LLC raised its position in shares of Constellation Brands by 9.9% in the third quarter. ProVise Management Group LLC now owns 6,814 shares of the company’s stock worth $1,135,000 after buying an additional 616 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Constellation Brands by 5.0% in the third quarter. Oppenheimer & Co. Inc. now owns 41,011 shares of the company’s stock worth $6,828,000 after buying an additional 1,956 shares during the last quarter. Finally, Intrust Bank NA raised its position in shares of Constellation Brands by 1.8% in the third quarter. Intrust Bank NA now owns 4,146 shares of the company’s stock worth $690,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 75.54% of the company’s stock.
Constellation Brands (NYSE:STZ) traded up 0.51% during mid-day trading on Friday, reaching $181.05. The company had a trading volume of 224,872 shares. The stock has a market capitalization of $35.27 billion, a PE ratio of 24.08 and a beta of 0.52. Constellation Brands has a one year low of $144.00 and a one year high of $186.06. The company’s 50-day moving average is $175.44 and its 200-day moving average is $160.30.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. Constellation Brands had a return on equity of 19.07% and a net margin of 16.65%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. Equities research analysts anticipate that Constellation Brands will post $7.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.15%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, May 8th. Constellation Brands’s dividend payout ratio (DPR) is presently 24.73%.
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About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. 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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