Constellation Brands Inc. (STZ) Coverage Initiated at Credit Suisse Group AG
Stock analysts at Credit Suisse Group AG initiated coverage on shares of Constellation Brands Inc. (NYSE:STZ) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating and a $178.00 price target on the stock. Credit Suisse Group AG’s target price would indicate a potential upside of 8.13% from the company’s current price.
Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Wells Fargo & Co. reiterated an “outperform” rating and issued a $185.00 price target on shares of Constellation Brands in a research note on Wednesday, July 6th. Credit Agricole SA reiterated an “outperform” rating on shares of Constellation Brands in a research note on Monday, August 22nd. Susquehanna reiterated a “hold” rating and issued a $155.00 price target on shares of Constellation Brands in a research note on Sunday, July 17th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Constellation Brands in a research note on Friday, July 15th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $174.46.
Constellation Brands (NYSE:STZ) opened at 164.61 on Thursday. The stock has a market capitalization of $33.01 billion, a P/E ratio of 29.66 and a beta of 0.72. The stock’s 50 day moving average price is $164.82 and its 200-day moving average price is $157.74. Constellation Brands has a 52 week low of $122.35 and a 52 week high of $168.68.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, June 30th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.02. The company earned $1.87 billion during the quarter. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. Equities research analysts expect that Constellation Brands will post $6.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, August 8th. This represents a $1.60 annualized dividend and a yield of 0.97%. Constellation Brands’s payout ratio is 28.78%.
In related news, CFO David Eric Klein sold 14,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $166.27, for a total transaction of $2,377,661.00. Following the sale, the chief financial officer now owns 36,152 shares of the company’s stock, valued at $6,010,993.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas Michael Kane sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $163.26, for a total value of $1,142,820.00. Following the sale, the vice president now directly owns 8,764 shares in the company, valued at approximately $1,430,810.64. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
A number of large investors have recently made changes to their positions in STZ. Egerton Capital UK LLP acquired a new position in Constellation Brands during the second quarter valued at about $305,544,000. Norges Bank acquired a new position in Constellation Brands during the fourth quarter valued at about $139,769,000. Lone Pine Capital LLC raised its position in Constellation Brands by 13.1% in the second quarter. Lone Pine Capital LLC now owns 6,666,012 shares of the company’s stock valued at $1,102,558,000 after buying an additional 769,791 shares during the period. Bank of Montreal Can acquired a new position in Constellation Brands during the second quarter valued at about $75,993,000. Finally, Newbrook Capital Advisors LP acquired a new position in Constellation Brands during the first quarter valued at about $64,138,000. 75.30% of the stock is currently owned by hedge funds and other institutional investors.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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