Constellation Brands Inc (STZ) Earns “Overweight” Rating from J P Morgan Chase & Co
J P Morgan Chase & Co reissued their overweight rating on shares of Constellation Brands Inc (NYSE:STZ) in a research report sent to investors on Friday morning. They currently have a $237.00 target price on the stock, up from their prior target price of $220.00.
Several other brokerages also recently commented on STZ. Morgan Stanley raised their target price on Constellation Brands from $204.00 to $218.00 and gave the company an overweight rating in a research note on Monday, July 3rd. Macquarie started coverage on Constellation Brands in a research note on Thursday, September 14th. They issued an outperform rating and a $227.00 target price for the company. BidaskClub upgraded Constellation Brands from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Royal Bank Of Canada restated a buy rating and issued a $220.00 target price on shares of Constellation Brands in a research note on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc set a $200.00 target price on Constellation Brands and gave the company a hold rating in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $216.00.
Constellation Brands (STZ) opened at 208.19 on Friday. Constellation Brands has a 1-year low of $144.00 and a 1-year high of $213.40. The firm has a market capitalization of $40.72 billion, a PE ratio of 23.92 and a beta of 0.04. The firm has a 50-day moving average price of $201.41 and a 200-day moving average price of $187.59.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Constellation Brands had a return on equity of 22.88% and a net margin of 22.04%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $1.77 EPS. Equities analysts expect that Constellation Brands will post $8.40 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.08 dividend on an annualized basis and a yield of 1.00%. Constellation Brands’s dividend payout ratio (DPR) is currently 26.03%.
In other Constellation Brands news, VP Thomas J. Mullin sold 54,834 shares of Constellation Brands stock in a transaction dated Thursday, August 3rd. The stock was 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 owns 86,005 shares in the company, valued at approximately $16,727,972.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William F. Hackett sold 12,517 shares of Constellation Brands stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,351 shares of company stock valued at $15,484,172 in the last quarter. Company insiders own 15.59% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Constellation Brands by 0.9% during the 2nd 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Constellation Brands by 3.2% during the 2nd 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 in the last quarter. State Street Corp lifted its position in shares of Constellation Brands by 0.5% during the 1st 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 in the last quarter. Egerton Capital UK LLP lifted its position in shares of Constellation Brands by 9.3% during the 2nd 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 in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Constellation Brands by 87.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after buying an additional 786,726 shares in the last quarter. 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.
Receive News & Stock Ratings for Constellation Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc and related stocks with our FREE daily email newsletter.