Constellation Brands (STZ) Price Target Raised to $250.00 at Evercore ISI
Constellation Brands (NYSE:STZ) had its price objective raised by Evercore ISI from $235.00 to $250.00 in a research note issued to investors on Friday morning. They currently have an outperform rating on the stock.
Other research analysts have also recently issued reports about the company. Royal Bank of Canada reiterated a buy rating and issued a $226.00 price objective on shares of Constellation Brands in a report on Sunday, November 12th. Pivotal Research upped their price objective on Constellation Brands from $250.00 to $265.00 and gave the company a buy rating in a report on Thursday, October 5th. Stifel Nicolaus upped their price objective on Constellation Brands from $216.00 to $235.00 and gave the company a buy rating in a report on Friday, October 6th. SunTrust Banks reiterated a buy rating and issued a $230.00 price objective on shares of Constellation Brands in a report on Friday, October 6th. Finally, Deutsche Bank started coverage on Constellation Brands in a report on Wednesday, December 13th. They issued a buy rating and a $244.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $226.55.
Shares of Constellation Brands (NYSE STZ) traded down $3.03 during trading on Friday, hitting $216.85. The stock had a trading volume of 2,774,670 shares, compared to its average volume of 4,255,400. The firm has a market cap of $42,350.00, a PE ratio of 26.35, a P/E/G ratio of 1.42 and a beta of 0.08. Constellation Brands has a fifty-two week low of $146.40 and a fifty-two week high of $229.50. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13. Constellation Brands had a return on equity of 22.49% and a net margin of 22.55%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the firm posted $1.96 earnings per share. research analysts forecast that Constellation Brands will post 8.44 earnings per share for the current fiscal year.
Constellation Brands announced that its board has authorized a share repurchase program on Friday, January 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
In other news, VP Thomas J. Mullin sold 50,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $209.45, for a total transaction of $10,472,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Thomas J. Mullin sold 18,227 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total value of $3,955,441.27. Following the sale, the vice president now directly owns 72,924 shares in the company, valued at approximately $15,825,237.24. The disclosure for this sale can be found here. Insiders have sold 70,727 shares of company stock worth $14,947,941 in the last ninety days. Corporate insiders own 15.59% of the company’s stock.
Several institutional investors have recently bought and sold shares of STZ. BlackRock Inc. increased its holdings in Constellation Brands by 0.9% in the second quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock valued at $2,268,295,000 after buying an additional 103,312 shares during the last quarter. Vanguard Group Inc. increased its holdings in Constellation Brands by 3.2% in the second quarter. Vanguard Group Inc. now owns 11,276,593 shares of the company’s stock valued at $2,184,613,000 after buying an additional 350,346 shares during the last quarter. Egerton Capital UK LLP increased its holdings in Constellation Brands by 13.0% in the third quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock valued at $612,522,000 after buying an additional 353,490 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Constellation Brands by 87.9% in the second quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock valued at $325,751,000 after buying an additional 786,726 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Constellation Brands by 488.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock valued at $231,093,000 after buying an additional 990,152 shares during the last quarter. 74.86% of the stock is currently owned by institutional investors and hedge funds.
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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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