Constellation Brands Inc (STZ) Upgraded by BidaskClub to “Strong-Buy”
Constellation Brands Inc (NYSE:STZ) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.
STZ has been the subject of several other reports. Morgan Stanley upped their price target on shares of Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $198.00 price target (down from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. Credit Suisse Group set a $203.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a research report on Friday, June 30th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $215.00 price target (up from $205.00) on shares of Constellation Brands in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and an average price target of $200.53.
Shares of Constellation Brands (STZ) traded up 0.16% on Friday, reaching $197.40. The company had a trading volume of 321,499 shares. Constellation Brands has a one year low of $144.00 and a one year high of $199.89. The company’s 50-day moving average is $195.29 and its 200-day moving average is $175.79. The company has a market capitalization of $38.55 billion, a PE ratio of 24.76 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts predict that Constellation Brands will post $8.17 earnings per share for the current year.
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In related news, VP Thomas J. Mullin sold 54,834 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the transaction, the vice president now directly owns 86,005 shares of the company’s stock, valued at $16,727,972.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christopher Stenzel sold 5,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $196.75, for a total transaction of $983,750.00. Following the completion of the transaction, the executive vice president now directly owns 39,721 shares of the company’s stock, valued at $7,815,106.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,601 shares of company stock valued at $18,586,986. 15.59% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in STZ. BlackRock Inc. increased its position in Constellation Brands by 0.9% in the second quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock worth $2,268,295,000 after buying an additional 103,312 shares during the last quarter. Vanguard Group Inc. increased its position in Constellation Brands by 3.2% in the second quarter. Vanguard Group Inc. now owns 11,276,593 shares of the company’s stock worth $2,184,613,000 after buying an additional 350,346 shares during the last quarter. State Street Corp increased its position in Constellation Brands by 0.5% in the first quarter. State Street Corp now owns 7,391,582 shares of the company’s stock worth $1,197,945,000 after buying an additional 39,246 shares during the last quarter. JPMorgan Chase & Co. increased its position in Constellation Brands by 9.0% in the first quarter. JPMorgan Chase & Co. now owns 4,578,259 shares of the company’s stock worth $741,999,000 after buying an additional 378,620 shares during the last quarter. Finally, Egerton Capital UK LLP increased its position in Constellation Brands by 9.3% in the second quarter. Egerton Capital UK LLP now owns 2,717,567 shares of the company’s stock worth $526,474,000 after buying an additional 231,984 shares during the last quarter. 74.99% of the stock is 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, 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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