Constellation Brands (STZ) Research Coverage Started at Barclays
Barclays started coverage on shares of Constellation Brands (NYSE:STZ) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $255.00 price objective on the stock.
A number of other equities analysts also recently weighed in on STZ. Macquarie initiated coverage on shares of Constellation Brands in a report on Thursday, September 14th. They set an outperform rating and a $227.00 target price on the stock. Susquehanna Bancshares restated a neutral rating and set a $193.00 target price (up from $169.00) on shares of Constellation Brands in a report on Monday, October 2nd. Pivotal Research boosted their target price on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a buy rating in a report on Thursday, October 5th. SunTrust Banks restated a buy rating and set a $230.00 target price on shares of Constellation Brands in a report on Friday, October 6th. Finally, Stifel Nicolaus boosted their target price on shares of Constellation Brands from $216.00 to $235.00 and gave the stock a buy rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $229.00.
Shares of Constellation Brands (NYSE STZ) traded down $1.53 on Wednesday, reaching $217.52. 4,189,300 shares of the company were exchanged, compared to its average volume of 2,110,000. The firm has a market capitalization of $42,610.00, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 1.34 and a beta of 0.08. Constellation Brands has a fifty-two week low of $146.99 and a fifty-two week high of $229.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.69 and a current ratio of 1.40.
Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.13. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. During the same period in the previous year, the company earned $1.96 earnings per share. analysts predict that Constellation Brands will post 8.53 earnings per share for the current year.
Constellation Brands declared that its board has approved a stock buyback plan on Friday, January 5th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a $0.52 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. Constellation Brands’s dividend payout ratio (DPR) is presently 25.27%.
In related news, VP Thomas J. Mullin sold 18,227 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the transaction, the vice president now directly owns 72,924 shares in the company, valued at $15,825,237.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas J. Mullin sold 50,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $209.45, for a total transaction of $10,472,500.00. The disclosure for this sale can be found here. Corporate insiders own 15.59% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its position in Constellation Brands by 50.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after purchasing an additional 193 shares during the period. Valeo Financial Advisors LLC bought a new stake in Constellation Brands during the third quarter worth about $153,000. MPS Loria Financial Planners LLC bought a new stake in Constellation Brands during the second quarter worth about $157,000. Acrospire Investment Management LLC lifted its position in Constellation Brands by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $155,000 after purchasing an additional 400 shares during the period. Finally, BB&T Investment Services Inc. bought a new stake in Constellation Brands during the second quarter worth about $179,000. 74.86% of the stock is owned by institutional investors and hedge funds.
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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