Constellation Brands (STZ) Earns Buy Rating from Jefferies Financial Group
Constellation Brands (NYSE:STZ)‘s stock had its “buy” rating reiterated by analysts at Jefferies Financial Group in a report issued on Wednesday. They currently have a $258.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 61.37% from the company’s previous close. Jefferies Financial Group also issued estimates for Constellation Brands’ Q4 2019 earnings at $1.76 EPS.
The analysts wrote, “STZ confidently outlined the attractive growth story still ahead at its beer segment update in Chicago (1/16).””
STZ has been the subject of several other research reports. Zacks Investment Research cut Constellation Brands from a “hold” rating to a “sell” rating in a research note on Monday. Morgan Stanley set a $246.00 target price on Constellation Brands and gave the stock a “buy” rating in a research note on Thursday, December 20th. Susquehanna Bancshares decreased their target price on Constellation Brands from $171.00 to $165.00 and set a “negative” rating for the company in a research note on Monday, October 1st. Guggenheim raised Constellation Brands from a “sell” rating to a “neutral” rating in a research note on Wednesday, January 9th. Finally, Bank of America raised their target price on Constellation Brands from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, October 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $226.80.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, January 9th. The company reported $2.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.33. Constellation Brands had a return on equity of 17.62% and a net margin of 35.27%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $2.00 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands will post 9.2 EPS for the current year.
In other Constellation Brands 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 owns 346,525 shares of the company’s stock, valued at $77,514,177.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas Michael Kane sold 4,419 shares of the firm’s stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $223.83, for a total value of $989,104.77. Following the completion of the sale, the vice president now directly owns 8,499 shares of the company’s stock, valued at approximately $1,902,331.17. The disclosure for this sale can be found here. Insiders sold 578,723 shares of company stock valued at $129,438,449 in the last three months. Insiders own 15.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Burns J W & Co. Inc. NY grew its stake in Constellation Brands by 4.9% in the fourth quarter. Burns J W & Co. Inc. NY now owns 10,547 shares of the company’s stock valued at $1,696,000 after acquiring an additional 490 shares during the period. Granite Investment Advisors LLC boosted its position in shares of Constellation Brands by 53.2% during the fourth quarter. Granite Investment Advisors LLC now owns 11,481 shares of the company’s stock valued at $1,846,000 after buying an additional 3,985 shares during the last quarter. Virtu Financial LLC boosted its position in shares of Constellation Brands by 439.5% during the fourth quarter. Virtu Financial LLC now owns 18,474 shares of the company’s stock valued at $2,971,000 after buying an additional 15,050 shares during the last quarter. Planning Directions Inc. boosted its position in shares of Constellation Brands by 140.4% during the fourth quarter. Planning Directions Inc. now owns 3,091 shares of the company’s stock valued at $497,000 after buying an additional 1,805 shares during the last quarter. Finally, Daiwa SB Investments Ltd. boosted its position in shares of Constellation Brands by 9.2% during the fourth quarter. Daiwa SB Investments Ltd. now owns 5,080 shares of the company’s stock valued at $817,000 after buying an additional 430 shares during the last quarter. 72.57% of the stock is owned by hedge funds and other institutional investors.
Constellation Brands Company Profile
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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