Constellation Brands (STZ) Coverage Dropped by Analysts at Macquarie
A number of other equities analysts have also commented on the company. Goldman Sachs Group raised Constellation Brands from a neutral rating to a buy rating and set a $211.00 price target for the company in a research note on Thursday. Zacks Investment Research raised Constellation Brands from a sell rating to a hold rating in a research note on Thursday, September 20th. Jefferies Financial Group reissued a buy rating and set a $289.00 price target on shares of Constellation Brands in a research note on Friday, December 7th. Guggenheim started coverage on Constellation Brands in a research note on Thursday, September 13th. They set a sell rating and a $177.00 price target for the company. Finally, OTR Global raised Constellation Brands to a positive rating in a research note on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Constellation Brands has a consensus rating of Buy and an average price target of $228.09.
Shares of NYSE:STZ traded down $0.72 during trading on Thursday, hitting $159.21. 3,834,953 shares of the company’s stock were exchanged, compared to its average volume of 5,391,411. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80. Constellation Brands has a 52-week low of $150.37 and a 52-week high of $236.62. The stock has a market capitalization of $28.60 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.57 and a beta of 0.38.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, February 11th. Constellation Brands’s payout ratio is 10.67%.
In other news, Chairman Richard Sands sold 148,773 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $223.69, for a total value of $33,279,032.37. Following the completion of the sale, the chairman now directly owns 346,525 shares of the company’s stock, valued at approximately $77,514,177.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Sands sold 151,060 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $223.67, for a total value of $33,787,590.20. Following the completion of the sale, the chief executive officer now directly owns 737,607 shares of the company’s stock, valued at $164,980,557.69. The disclosure for this sale can be found here. Insiders sold a total of 578,723 shares of company stock valued at $129,438,449 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.
Several large investors have recently bought and sold shares of STZ. Carroll Financial Associates Inc. lifted its stake in shares of Constellation Brands by 132.0% during the 4th quarter. Carroll Financial Associates Inc. now owns 283 shares of the company’s stock worth $48,000 after acquiring an additional 161 shares during the last quarter. Atlantic Trust LLC bought a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $114,000. TLP Group LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth approximately $136,000. Truvestments Capital LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth approximately $137,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Constellation Brands by 49.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 787 shares of the company’s stock worth $170,000 after acquiring an additional 260 shares during the last quarter. 72.56% of the stock is owned by institutional investors and hedge funds.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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