Constellation Brands Inc (STZ) Rating Reiterated by SunTrust Banks, Inc.
Constellation Brands Inc (NYSE:STZ)‘s stock had its “buy” rating reiterated by SunTrust Banks, Inc. in a report released on Friday. They currently have a $230.00 price objective on the stock. SunTrust Banks, Inc.’s price target would suggest a potential upside of 9.47% from the stock’s current price. SunTrust Banks also issued estimates for Constellation Brands’ Q3 2018 earnings at $1.84 EPS, FY2018 earnings at $8.38 EPS, Q1 2019 earnings at $2.43 EPS, Q2 2019 earnings at $2.69 EPS, Q3 2019 earnings at $2.21 EPS and FY2019 earnings at $9.34 EPS.
A number of other research firms also recently commented on STZ. Susquehanna Bancshares Inc set a $200.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a research report on Thursday. Macquarie began coverage on shares of Constellation Brands in a research report on Thursday, September 14th. They set an “outperform” rating and a $227.00 target price on the stock. Pivotal Research raised their target price on shares of Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company reissued an “outperform” rating and set a $216.00 target price (up previously from $215.00) on shares of Constellation Brands in a research report on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Constellation Brands from a “buy” rating to a “neutral” rating and cut their target price for the company from $212.00 to $210.00 in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $213.84.
Shares of Constellation Brands (NYSE STZ) opened at 210.11 on Friday. The company has a market cap of $41.06 billion, a price-to-earnings ratio of 24.14 and a beta of 0.04. The company’s 50-day moving average is $201.11 and its 200 day moving average is $186.94. Constellation Brands has a 1-year low of $144.00 and a 1-year high of $213.40.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.30. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Constellation Brands had a net margin of 22.04% and a return on equity of 22.88%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. Equities analysts anticipate that Constellation Brands will post $8.18 EPS for the current year.
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In related news, EVP William F. Hackett sold 12,517 shares of Constellation Brands stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Stenzel sold 5,000 shares of Constellation Brands stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $196.75, for a total transaction of $983,750.00. Following the completion of the sale, the executive vice president now owns 39,721 shares of the company’s stock, valued at $7,815,106.75. The disclosure for this sale can be found here. Insiders sold a total of 79,351 shares of company stock valued at $15,484,172 over the last quarter. 15.59% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in STZ. BlackRock Inc. lifted its stake in Constellation Brands by 3,310.4% during the 1st quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock valued at $1,880,863,000 after acquiring an additional 11,264,949 shares during the period. Janus Henderson Group PLC lifted its stake in Constellation Brands by 4,909.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock valued at $219,829,000 after acquiring an additional 1,112,065 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Constellation Brands by 488.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock valued at $231,093,000 after acquiring an additional 990,152 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in Constellation Brands during the 1st quarter valued at approximately $132,686,000. Finally, Marshall Wace North America L.P. acquired a new stake in Constellation Brands during the 1st quarter valued at approximately $132,686,000. Institutional investors and hedge funds own 74.96% of the company’s stock.
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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