Cowen and Company Reaffirms “Outperform” Rating for Constellation Brands Inc (STZ)
Constellation Brands Inc (NYSE:STZ)‘s stock had its “outperform” rating restated by research analysts at Cowen and Company in a research report issued on Friday. They presently have a $243.00 target price on the stock, up from their prior target price of $230.00. Cowen and Company’s target price indicates a potential upside of 16.13% from the stock’s current price.
Several other equities research analysts have also commented on the company. Evercore ISI restated an “outperform” rating and set a $235.00 target price (up previously from $230.00) on shares of Constellation Brands in a research report on Friday. Morgan Stanley upped their target price on Constellation Brands from $218.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank Of Canada upped their target price on Constellation Brands from $222.00 to $226.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus upped their target price on Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Friday. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $212.95.
Constellation Brands (NYSE:STZ) traded down 0.53% during midday trading on Friday, hitting $208.15. The stock had a trading volume of 831,779 shares. The stock has a market capitalization of $40.65 billion, a price-to-earnings ratio of 26.11 and a beta of 0.04. The company’s 50 day moving average price is $200.74 and its 200-day moving average price is $186.60. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $213.40. Constellation Brands also saw some unusual options trading on Wednesday. Investors bought 8,867 put options on the stock. This represents an increase of approximately 667% compared to the typical daily volume of 1,156 put options.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands will post $8.18 earnings per share for the current fiscal year.
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 stock was sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the sale, the vice president now directly owns 86,005 shares of the company’s stock, valued at $16,727,972.50. The disclosure for this sale can be found here. Insiders sold 79,351 shares of company stock valued at $15,484,172 over the last three months. Company insiders own 15.59% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its position in Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after buying an additional 193 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Constellation Brands in the first quarter worth $117,000. North Star Investment Management Corp. increased its position in Constellation Brands by 11.6% in the second quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after buying an additional 78 shares during the last quarter. Hanson McClain Inc. increased its position in Constellation Brands by 0.4% in the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after buying an additional 3 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Constellation Brands by 609.1% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after buying an additional 670 shares during the last quarter. 74.96% of the stock is owned by institutional investors and hedge funds.
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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