Constellation Brands Inc (STZ) Sets New 12-Month High at $220.96
Constellation Brands Inc (NYSE:STZ) reached a new 52-week high on Monday . The stock traded as high as $220.96 and last traded at $218.67, with a volume of 672100 shares trading hands. The stock had previously closed at $218.13.
STZ has been the subject of several research reports. Cowen and Company restated a “buy” rating and issued a $230.00 price objective on shares of Constellation Brands in a research report on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and issued a $220.00 price objective on shares of Constellation Brands in a research report on Wednesday, August 2nd. BidaskClub cut shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Pivotal Research raised their price objective on shares of Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Stifel Nicolaus raised their price objective on shares of Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $216.00.
The firm has a market cap of $43,170.00, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 1.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm earned $1.77 EPS. Constellation Brands’s quarterly revenue was up 3.1% compared to the same quarter last year. sell-side analysts forecast that Constellation Brands Inc will post 8.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, November 6th. Constellation Brands’s payout ratio is 26.60%.
In other Constellation Brands news, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $209.45, for a total transaction of $10,472,500.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Barry A. Fromberg sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 86,179 shares of company stock worth $18,030,434 in the last three months. 15.59% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in STZ. Bank of Montreal Can raised its holdings in Constellation Brands by 3.2% during the 2nd quarter. Bank of Montreal Can now owns 98,693 shares of the company’s stock worth $19,120,000 after buying an additional 3,081 shares during the period. State of Alaska Department of Revenue raised its holdings in Constellation Brands by 48.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,578 shares of the company’s stock worth $693,000 after buying an additional 1,160 shares during the period. Concorde Asset Management LLC acquired a new stake in Constellation Brands during the 2nd quarter worth approximately $410,000. V Wealth Management LLC acquired a new stake in Constellation Brands during the 2nd quarter worth approximately $165,000. Finally, Advisors Capital Management LLC acquired a new stake in Constellation Brands during the 2nd quarter worth approximately $272,000. Hedge funds and other institutional investors own 74.38% of the company’s stock.
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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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