BidaskClub Downgrades Constellation Brands Inc (NYSE:STZ) to Buy
BidaskClub lowered shares of Constellation Brands Inc (NYSE:STZ) from a strong-buy rating to a buy rating in a research note released on Friday morning.
Several other research analysts have also weighed in on STZ. UBS AG increased their price objective on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a neutral rating in a report on Friday, April 7th. Wells Fargo & Company reiterated an outperform rating and set a $216.00 price objective (up from $215.00) on shares of Constellation Brands in a report on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) lowered shares of Constellation Brands from a buy rating to a neutral rating and cut their price objective for the stock from $212.00 to $210.00 in a report on Monday, July 24th. Credit Suisse Group set a $182.00 price objective on shares of Constellation Brands and gave the stock a hold rating in a report on Saturday, April 8th. Finally, Stifel Nicolaus increased their price objective on shares of Constellation Brands from $201.00 to $216.00 and gave the stock a buy rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $198.47.
Shares of Constellation Brands (NYSE STZ) traded up 0.78% during midday trading on Friday, hitting $194.85. 431,575 shares of the company’s stock were exchanged. Constellation Brands has a one year low of $144.00 and a one year high of $199.89. The firm has a market cap of $38.05 billion, a PE ratio of 24.44 and a beta of 0.07. The stock’s 50-day moving average price is $190.35 and its 200 day moving average price is $172.11.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.36. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 EPS. Equities research analysts forecast that Constellation Brands will post $8.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, August 7th. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
In other Constellation Brands news, VP Thomas J. Mullin sold 23,827 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $193.64, for a total value of $4,613,860.28. Following the completion of the sale, the vice president now owns 78,524 shares of the company’s stock, valued at $15,205,387.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry A. Fromberg sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the sale, the director now directly owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. Insiders sold 40,767 shares of company stock valued at $7,921,773 in the last ninety days. 15.59% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Harbour Capital Advisors LLC purchased a new stake in shares of Constellation Brands during the first quarter valued at about $117,000. North Star Investment Management Corp. increased its stake in shares of Constellation Brands by 11.6% in the second quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock valued at $145,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares during the period. Hanson McClain Inc. increased its stake in shares of Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the period. Finally, Tompkins Financial Corp increased its stake in shares of Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock valued at $116,000 after buying an additional 175 shares during the period. 75.88% of the stock is owned by 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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