Constellation Brands Inc (STZ) Receives Outperform Rating from Cowen and Company
Cowen and Company reaffirmed their outperform rating on shares of Constellation Brands Inc (NYSE:STZ) in a research note released on Friday. The firm currently has a $243.00 price objective on the stock, up from their previous price objective of $230.00.
STZ has been the topic of a number of other research reports. Morgan Stanley lifted their target price on Constellation Brands from $204.00 to $218.00 and gave the company an overweight rating in a research report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $198.00 target price (down previously from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. BidaskClub upgraded Constellation Brands from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Wells Fargo & Company reiterated an outperform rating and issued a $215.00 target price (up previously from $205.00) on shares of Constellation Brands in a research report on Monday, July 3rd. Finally, Credit Suisse Group set a $203.00 target price on Constellation Brands and gave the company a hold rating in a research report on Friday, June 30th. One investment 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 stock has an average rating of Buy and a consensus target price of $213.84.
Shares of Constellation Brands (STZ) traded up 0.41% on Friday, reaching $210.11. 1,776,910 shares of the company traded hands. The firm’s 50 day moving average is $201.11 and its 200 day moving average is $186.94. Constellation Brands has a one year low of $144.00 and a one year high of $213.40. The company has a market capitalization of $41.06 billion, a P/E ratio of 24.14 and a beta of 0.04. Constellation Brands also was the recipient of some unusual options trading on Wednesday. Stock traders purchased 8,867 put options on the company. This represents an increase of approximately 667% compared to the average volume of 1,156 put options.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.88% and a net margin of 22.04%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the business posted $1.77 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts expect that Constellation Brands will post $8.18 earnings per share for the current fiscal 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 stock was sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Thomas J. Mullin sold 54,834 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the transaction, the vice president now directly owns 86,005 shares in the company, valued at $16,727,972.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,351 shares of company stock worth $15,484,172. 15.59% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its stake in shares of Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after acquiring an additional 193 shares during the period. Harbour Capital Advisors LLC acquired a new position in shares of Constellation Brands in the first quarter worth approximately $117,000. North Star Investment Management Corp. lifted 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 worth $145,000 after acquiring an additional 78 shares during the period. Hanson McClain Inc. lifted its stake in shares of Constellation Brands by 0.4% in the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after acquiring an additional 3 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in shares of Constellation Brands by 609.1% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after acquiring an additional 670 shares during the period. 74.96% of the stock is currently 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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