Constellation Brands Inc (STZ) Given New $245.00 Price Target at Morgan Stanley
Constellation Brands Inc (NYSE:STZ) had its price objective lifted by stock analysts at Morgan Stanley from $218.00 to $245.00 in a report issued on Friday. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 17.08% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. J P Morgan Chase & Co restated an “overweight” rating and issued a $220.00 price target (up from $188.00) on shares of Constellation Brands in a report on Friday, June 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price target (up from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. UBS AG raised their price target on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a report on Friday, June 30th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $193.00 price target (up from $169.00) on shares of Constellation Brands in a report on Monday. Finally, Pivotal Research raised their price target on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $211.00.
Shares of Constellation Brands (NYSE:STZ) opened at 209.25 on Friday. Constellation Brands has a 52-week low of $144.00 and a 52-week high of $213.40. The company has a 50-day moving average of $200.74 and a 200 day moving average of $186.60. The company has a market capitalization of $40.87 billion, a PE ratio of 26.24 and a beta of 0.04. Constellation Brands also was the target of unusually large options trading activity on Wednesday. Traders bought 8,867 put options on the company. This represents an increase of 667% compared to the average daily volume of 1,156 put options.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.30. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company posted $1.77 earnings per share. Analysts predict that Constellation Brands will post $8.18 earnings per share for the current year.
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In other Constellation Brands news, EVP William F. Hackett sold 12,517 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total transaction of $10,665,213.00. Following the completion of the transaction, the vice president now directly owns 86,005 shares in the company, valued at $16,727,972.50. The disclosure for this sale can be found here. Insiders sold 79,351 shares of company stock worth $15,484,172 over the last ninety days. Insiders own 15.59% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in STZ. BlackRock Inc. lifted its stake in shares of Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock valued at $1,880,863,000 after buying an additional 11,264,949 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Constellation Brands by 4,909.6% in the second quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock valued at $219,829,000 after buying an additional 1,112,065 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Constellation Brands by 488.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock valued at $231,093,000 after buying an additional 990,152 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Constellation Brands in the first quarter valued at $132,686,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Constellation Brands in the first quarter valued at $132,686,000. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
Constellation Brands Company Profile
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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